JSW Neo Energy Ltd receives LoA for 700 MW ISTS-Connected Solar Capacity from NTPC

JSW Neo Energy Limited (or "JSW Neo"), a wholly owned subsidiary of JSW Energy Limited (or "The Company"), has received Letter of Award (or "LoA") for setting up 700 MW ISTS connected Solar Power Project from NTPC Limited (or "NTPC") against Tariff based Competitive Bid invited for setting 1,500 MW ISTS-connected Solar Power Projects (NTPC-ISTS-II).

Subsequent to this, the Company's total locked-in generation capacity increases to 13.3 GW of which 3.1 GW comprises of Solar power. The Company's current installed generation capacity is 7.2 GW and expects to have 9.8 GW of installed capacity by CY24.

JSW Energy has total locked-in generation capacity of 13.3 GW comprising of 7.2 GW operational, 2.6 GW under-construction across wind, thermal and hydro and LoA/LoIs for 3.4 GW capacity from SECI (Solar Tranche XIII and Wind Tranche XVI), SJVN, GUVNL and NTPC. In addition, the company has 3.4 GWh of locked-in energy storage capacity through battery energy storage system and hydro pumped storage project. The Company aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. JSW Energy has set an ambitious target of achieving Carbon Neutrality by 2050.

Shares of JSW Energy Limited was last trading in BSE at Rs. 626.35 as compared to the previous close of Rs. 628.10. The total number of shares traded during the day was 147893 in over 4298 trades.

The stock hit an intraday high of Rs. 638.30 and intraday low of 611.60. The net turnover during the day was Rs. 92710617.00.

Source : Equity Bulls

Keywords

JSWEnergy INE121E01018 JSWNeoEnergy ElectricUtilities LoA SolarCapacity NTPC