JSW Neo Energy, a subsidiary of JSW Energy, has secured a contract from the Solar Energy Corporation of India Limited (SECI) to supply 230 megawatts of firm and dispatchable renewable energy.
What Happened: JSW Energy's wholly-owned subsidiary, JSW Neo Energy Limited, has been awarded a contract by SECI, the company announced in an exchange filing on Thursday.
“JSW Neo Energy Limited has received a letter of award from Solar Energy Corporation of India Limited for the supply of 230 megawatt ISTS connected Firm and Dispatchable Renewable Energy” the company revealed in a press release.
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The contract was secured after a tariff-based competitive bid for the supply of 630-megawatt firm and dispatchable power from ISTS-connected renewable energy projects.
This contract has boosted JSW Energy’s total locked-in generation capacity to 16.4 gigawatts, which includes a total locked-in hybrid capacity of 2.3 gigawatts. The company is aiming to increase its installed generation capacity to 10 gigawatts by FY25, a significant rise from the current 7.5 gigawatts.
Price Action: Shares of JSW Energy were down 0.09% to ₹689.35 on Thursday.
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