Shares of JSW Energy jump 3% in the morning trade; here’s why

About the commissioning: 

JSW Energy Ltd and its subsidiaries are primarily engaged in the business of generation of power from its power assets has today reported that a wholly owned step-down subsidiary JSW Renew Energy Limited has started phase-wise commissioning of the 810 MW ISTS-connected Wind Power Project awarded under SECI tranche IX in Tamil Nadu with commissioning of the first phase of 51 MW. The Project has a power purchase agreement with SECI for a period of 25 years. After this the total current installed capacity of JSW Energy becomes 6,822 MW while the under-construction capacity stands at 2,969 MW which is likely to be commissioned in phases over the next 12 months.

Additionally, the company’s Joint MD & CEO commented on company targets that JSW Energy is well placed to achieve the targeted 10 GW generation capacity by the end of CY2024. The company has set a target to reach 20 GW of generation capacity and 40 GWh of energy storage capacity by 2030. The company has currently locked in 3.4 GWh of energy storage capacity utilizing battery energy storage system and a hydro-pumped storage project.

About the company: 

JSW Energy Ltd is amongst India’s leading independent power producers. The company which is a part of the USD 23 billion JSW Group, is leading the energy transition in India by scaling its renewable energy capacity upwards and foraying into energy products and services. The company sells power through a combination of long-term and short-term power purchase arrangements and power exchanges in India to state-owned utilities, power trading companies and some industrial consumers.

Stock Performance

In the last trading session, the stock closed at Rs 409.55. Today, it opened at Rs 417.80 and currently trading at Rs 416.80, up by 1.77%. The company’s 52-week high stands at Rs 476.65 while the 52-week low stands at Rs 204.80. The company currently boasts a market capitalisation of approximately Rs 68,550 crore. Over the past year, shares of the company have given staggering returns of 57.68%; in the same time frame, BSE Power has changed by 34.96%.

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.