JSW Neo Energy Limited has recently secured an additional 400 MW Wind-Solar Hybrid Power Project from the Maharashtra State Electricity Distribution Company Limited (MSEDCL) under the greenshoe option. This new allocation is part of MSEDCL’s Phase III expansion, which now brings JSW Neo’s total capacity for this phase to 600 MW.
With the inclusion of this new capacity, JSW Energy’s overall locked-in generation capacity has risen to a substantial 17.6 GW. This total encompasses 3.2 GW of hybrid capacity, which integrates both wind and solar power sources. This underscores JSW Energy’s dedication to significantly expanding its renewable energy footprint.
Currently, JSW Energy operates a generation capacity of 7.5 GW, and the company has ambitious plans to elevate this capacity to 10 GW by the conclusion of the fiscal year 2025. The company’s energy portfolio is highly diversified, including 2.3 GW of projects that are still under construction across various energy sectors such as wind, thermal, and hydro power. In addition, JSW Energy boasts a robust renewable energy (RE) pipeline of 7.7 GW, with Power Purchase Agreements (PPAs) already in place for 2.3 GW of this capacity.
Moreover, JSW Energy has secured 4.2 GWh of energy storage capacity through its investments in battery energy storage systems and hydro pumped storage projects. The company’s long-term strategic goals are ambitious, aiming to achieve a total generation capacity of 20 GW and 40 GWh of energy storage capacity by the year 2030.
Furthermore, JSW Energy has set an ambitious target to achieve Carbon Neutrality by 2050. The recent project award significantly bolsters the company’s transition towards becoming a comprehensive provider of energy products and services, reflecting its ongoing commitment to innovation and sustainability in the energy sector.
This latest development highlights JSW Energy’s proactive approach in advancing its renewable energy capabilities and expanding its market presence. The strategic acquisition of additional hybrid power capacity is a testament to the company’s efforts to lead the way in the transition to cleaner and more sustainable energy solutions.
JSW Neo Energy Limited, a subsidiary of JSW Energy Limited, specializes in renewable energy projects, focusing on wind-solar hybrid power. With a growing portfolio, the company is committed to expanding its renewable energy capacity and advancing sustainable energy solutions. Its recent achievements include securing substantial wind-solar projects and contributing to JSW Energy’s ambitious renewable energy targets.
