On Tuesday, Maharashtra State Electricity Distribution Company Limited (MSEDCL) sent a Letter of Award (LoA) for the establishment of a 200 MW Wind-Solar Hybrid Power Project to JSW Neo Energy Limited (JSW Neo), a wholly owned subsidiary of JSW Energy Limited, in response to a tariff-based competitive bid (MSEDCL – Phase III).
The company reported that this capacity award brought its total locked-in generation capacity to 17.2 GW, with 2.9 GW being locked-in hybrid capacity (including FDRE). According to a regulatory filing, JSW Energy intends to increase its installed generation capacity from 7.5 GW to 10 GW by FY25.
“The project serves the company’s transition towards becoming an energy products and services company and improves its energy solution offerings,” the statement continued.
With 7.5 GW operational, 2.3 GW under development for wind, thermal, and hydropower, and a 7.3 GW RE pipeline (with PPAs signed for 2.3 GW), JSW Energy has a total locked-in generation capacity of 17.2 GW. Through its battery energy storage system and hydro-pumped storage project, the company also possesses 4.2 GWh of locked-in energy storage capacity. Before 2030, JSW Energy wants to achieve 20 GW of generation capacity and 40 GWh of energy storage capacity. The goal of becoming carbon neutral by 2050 is rather high.
In July, Sajjan Jindalhad, the Managing Director and Chairman of JSW Energy, stated that the business intends to accelerate capacity increases by increasing its capital expenditure over the next six years. For Strategy 2.0, the corporation intends to increase its capital expenditure to Rs 1.15 trillion to meet its targets of 40 gigawatt hours (GWh) and 20 gigawatts (GW) by 2030.
