JSW Energy Arm Gets Letter Of Award From NTPC For Solar Power Project

JSW Energy has made significant strides in its renewable energy journey with the recent award of a 400 MW solar power project from NTPC Ltd. The award was granted to its wholly-owned subsidiary, JSW Neo Energy, under NTPC’s Tariff-based Competitive Bid initiative for 1,500 MW ISTS-connected solar projects. This development aligns with JSW Energy’s ambitious plans to strengthen its renewable portfolio and achieve sustainability milestones in the coming years.

Major Milestone: 400 MW Solar Project Awarded

JSW Energy’s subsidiary, JSW Neo Energy, has received a Letter of Award (LoA) from NTPC Ltd for developing a 400 MW ISTS-connected solar power project. This project is part of NTPC’s initiative to set up 1,500 MW of ISTS-connected solar projects under its Tariff-based Competitive Bid (NTPC-ISTS-III). This strategic award marks another significant milestone for JSW Energy, strengthening its renewable energy portfolio.

The new project contributes to JSW Energy’s commitment to expanding its renewable energy generation capacity. As a result of this addition, the company’s total locked-in generation capacity has now reached 19.6 GW, which includes 4.4 GW exclusively allocated to solar energy.

Future Goals: Operational Growth and Carbon Neutrality

JSW Energy is actively working towards its vision of achieving 10 GW of operational capacity by FY 2025. Currently, the company operates 7.7 GW across thermal, hydro, and renewable energy (RE) sources. Moreover, it boasts 16.2 GWh of locked-in energy storage capacity through advanced battery energy storage systems and hydro-pumped storage projects.

JSW Energy Share Performance

As of December 09,12:15 PM, shares of JSW Energy are trading at ₹677.00 per share with a surge of 0.40% from its previous day’s closing price. Over the last month, the stock has seen a fall of 8.42%.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.