JSW Energy Ltd Acquires 45 MW Vashpet Wind Project from Reliance Power

On April 12, 2024, JSW Energy informed the stock exchanges about the acquisition of the 45 MW Vashpet Wind Project, located in Maharashtra, from Reliance Power Limited by JSW Renewable Energy (Coated) Limited (JSWRECL), a wholly owned subsidiary of JSW Neo Energy Limited and a step-down subsidiary of the company.

Details of the Acquisition

JSW Energy stated in an exchange filing, “JSW Renewable Energy (Coated) Limited, a wholly-owned subsidiary of JSW Neo Energy Limited and a step-down subsidiary of JSW Energy, has acquired 45 MW of Wind based Renewable Energy Project from Reliance Power Limited located at Jath, Sangli District, Maharashtra.”

They further added, “In accordance with our prior announcement on March 22, 2024, of the signing of the Business Transfer Agreement, the aforesaid transaction is now closed after obtaining the necessary customary approvals.”

As per the exchange filing, JSW Energy has a total locked-in generation capacity of 12.5 GW comprising 7.2 GW operational, 2.6 GW under construction across wind, thermal and hydro and LoA/LoIs for 2.7 GW capacity from SECI (Solar Tranche XIII and Wind Tranche XVI), SJVN (previously known as Satluj Jal Vidyut Nigam) and Gujarat Urja Vikas Nigam Limited (GUVNL).

In addition, the company has 3.4 GWh of locked-in energy storage capacity through a battery energy storage system and a hydro-pumped storage project. JSW Energy aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. Further, the company has also set a target of achieving Carbon Neutrality by 2050.

About JSW Energy Ltd

JSW Energy Ltd is one of the leading private-sector power producers in India. The company is part of the USD 23 billion JSW Group, which has a notable presence in various sectors, including energy, steel, cement, infrastructure, sports, etc. In Q3 FY 2024, the company reported a net profit of ₹250.99 crore, up by approximately 217.32%, when compared to ₹79.09 crore in Q3 FY 2023.

On April 15, 2024, the share price of JSW Energy Ltd opened at ₹591.20, touching the day’s high at ₹611.20, as of 9:53 AM on the NSE.

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