JSW Neo Energy, a wholly-owned subsidiary of JSW Energy, has bagged a wind-solar hybrid power project from Maharashtra State Electricity Distribution Company (MSEDCL).
What Happened: According to the announcement made on Thursday, JSW Neo Energy received a letter of award for an additional 400 megawatt of wind-solar hybrid power project, increasing the total capacity allotted under phase-III of the project to 600 megawatt.
This award has increased the company’s total locked-in generation capacity to 17.6 gigawatts, including a total locked-in hybrid capacity of 3.2 gigawatts. The company is on track to achieve an installed generation capacity of 10 gigawatts by FY25 — a significant leap from the current 7.5 gigawatts.
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JSW Energy has set a lofty goal of achieving carbon neutrality by 2050. The company also aims to reach 20 gigawatts in generation capacity and 40 gigawatt-hour of energy storage capacity before 2030.
The development comes just days after JSW Neo Energy secured a 200 megawatt wind-solar hybrid power project from MSEDCL. The company said the award was part of MSEDCL's phase III tariff-based competitive bid.
Price Action: JSW Energy was trading 0.39% lower at ₹733.70 on Thursday.
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