JSW Neo Energy Bags 600 MW Wind-Solar Hybrid Project From MSEDCL

JSW Energy on Tuesday said that its arm JSW Neo Energy has bagged a 600 MW wind-solar hybrid power project from Maharashtra State Electricity Distribution Company (MSEDCL).

Subsequent to this, the company’s total locked-in generation capacity has increased to 18.2 GW, which includes a total locked-in hybrid capacity of 3.8 GW (including FDRE), a company statement said.

According to the statement, JSW Neo Energy, a wholly owned subsidiary of JSW Energy (company), has received Letter of Award (LoA) for 600 MW of wind-solar hybrid power project including 400 MW allotted under greenshoe option from MSEDCL against MSEDCL Phase IV.

The company, however, did not disclose any financial details.

The company expects to have an installed generation capacity of 10 GW by FY25, up from 7.5 GW currently.

This project enhances the company’s energy solution offerings and supports its transition towards becoming an energy products and services company.

JSW Energy has total locked-in generation capacity of 18.2 GW comprising 7.5 GW operational, 2.3 GW under-construction across wind, thermal and hydro and RE pipeline of 8.3 GW (PPAs signed for 2.3 GW).

The company also has 4.2 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.