JSW Energy Secures Contract from SECI for 230 MW Renewable Energy Supply

JSW Energy has recently achieved a notable milestone in its renewable energy portfolio. On Thursday, the company announced that its wholly-owned subsidiary, JSW Neo Energy Limited, received a letter of award from the Solar Energy Corporation of India (SECI). This award signifies the company’s commitment to expanding its renewable energy capabilities and underscores its competitive position in the sector.

Major Contract Awarded for Renewable Energy Supply

JSW Neo Energy Limited has been awarded a contract to supply 230 megawatts (MW) of power from its renewable energy project. This award followed a tariff-based competitive bidding process, where bids were invited for the supply of 630 MW of firm and dispatchable power from an interstate transmission system (ISTS)-connected renewable energy project under SECI-FDRE-IV. This contract highlights JSW Energy’s strategic efforts to secure substantial power supply agreements through competitive and transparent processes.

Expansion of Generation Capacity

With this new contract, JSW Energy’s total locked-in generation capacity now stands at 16.4 gigawatts (GW). This total includes a hybrid capacity of 2.3 GW, which encompasses firm and dispatchable renewable energy. The company aims to boost its installed generation capacity to 10 GW by fiscal year 2025, up from the current 7.5 GW. This expansion reflects JSW Energy’s broader strategy to enhance its renewable energy footprint and support sustainable energy development.

Conclusion: JSW Energy’s recent contract award is a significant step in its ongoing expansion into renewable energy. The increase in locked-in generation capacity demonstrates the company’s growing influence in the sector and its commitment to achieving ambitious growth targets. With strategic investments and a focus on sustainable energy solutions, JSW Energy is well-positioned to make a substantial impact in the renewable energy landscape. The stock of JSW Energy currently trades at Rs.714.10 per share up by 2.10% from its previous day’s closing price. The stock is up by 74.20% in this year.

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