SJVN has awarded a 700 Megawatt (MW) solar project to JSW Neo Energy Ltd, a subsidiary of JSW Energy. This project was secured through a tariff-based competitive bid for setting up 1,500 MW ISTS-connected solar power projects, as stated in an exchange filing by JSW Energy.
SJVN Limited, formerly known as Satluj Jal Vidyut Nigam Limited, is a joint venture between the Government of India and the Government of Himachal Pradesh. It is a hydroelectric power generation company that operates several power plants in India, with a focus on sustainable and environmentally friendly energy production.
JSW Energy is a leading integrated power company in India, part of the JSW Group. It has a diversified portfolio of thermal, hydro, and renewable power plants across India. JSW Energy is committed to reducing its carbon footprint and has invested in renewable energy sources such as solar and wind power. The company also focuses on energy efficiency and sustainability in its operations.
With the letter of award (LoA) for the 700 MW capacity from SJVN Ltd, JSW Energy’s total locked-in capacity has now increased to 11.0 Gigawatt (GW), including 1.4 GW of solar capacity. The project is required to supply power of the full contracted capacity within 24 months from the effective date of the Power Purchase Agreement (PPA).
JSW Energy also mentioned that it currently has a total locked-in generation capacity of 11.0 GW, which includes 7.2 GW in operation, 2.6 GW under construction in wind, thermal, and hydro, along with LoAs for 1.2 GW capacity from SECI (Tranche – XVI) and SJVN.
The company has 3.4 GWh of locked-in energy storage capacity through a battery energy storage system and hydro-pumped storage project. JSW Energy aims to achieve 9.8 GW of operational generation capacity by CY2024, a significant increase from the current operational capacity of 7.2 GW. The company has set ambitious targets, including a 50 per cent reduction in carbon footprint by 2030 and achieving Carbon Neutrality by 2050.