JSW Energy subsidiary receives 600 MW wind-solar hybrid power plant project from Maharashtra state company

New Delhi (India), September 10 (ANI): JSW Neo Energy, a wholly owned subsidiary of JSW Energy, has been awarded a contract by Maharashtra State Electricity Distribution Company for the implementation of a 600 MW wind-solar hybrid power plant project.

The company informed the stock exchange in a filing on Tuesday that JSW Neo Energy, a wholly-owned subsidiary of JSW Energy, has received a letter of assignment for 600 MW of the wind-solar hybrid power project, including 400 MW allocated under the green shoe option from Maharashtra State Electricity Distribution Company to MSEDCL-Phase IV.

The company also highlighted that after receiving the contract award letter, the company’s total blocked production capacity has also increased.

“As a result of this allocation, the Company’s total locked generation capacity has increased to 18.2 GW, which includes a total hybrid locked capacity of 3.8 GW (including FDRE). The Company expects to have an installed generation capacity of 10 GW by FY2025, up from 7.5 GW currently,” the company said.

The company also has 4.2 GWh of locked-in energy storage capacity through a battery storage system and a hydroelectric storage project. It aims to achieve 20 GW of generating capacity and 40 GWh of energy storage capacity by 2030.

The company has set an ambitious target of achieving carbon neutrality by 2050. At the time of filing this report, the company’s shares were up over 2 per cent at Rs 248.45 crore.

JSW Energy is a privately held power producer in India and part of the $24 billion JSW Group that has a significant presence in sectors such as steel, power, infrastructure, cement, sports and others. The company has established its presence in the energy value chains with diversified assets in power generation and transmission. (ANI)