JSW Energy Secures Major Solar and Storage Contracts

JSW Energy's subsidiary, JSW Neo Energy, has secured contracts for a 500 MW solar project and a 300 MW solar project in India. This boosts the company's total locked-in generation capacity to 16 GW and targets 20 GW generation by 2030. The company aims for Carbon Neutrality by 2050.

JSW Energy announced on Monday that its subsidiary, JSW Neo Energy, has been awarded a contract to develop a 500 MW inter-state transmission system (ISTS) connected solar project, along with 250 MW/500 MWh of energy storage systems from the Solar Energy Corporation of India (SECI).

According to a company statement, JSW Neo received the Letter of Award (LoA) for the 500 MW ISTS-connected Solar Power Project and the 250 MW/500 MWh Energy Storage Systems as part of a tariff-based competitive bid for setting up 1,200 MW of ISTS-connected Solar Power Projects and 600 MW of Energy Storage Systems (Tranche XV).

Additionally, JSW Neo received a separate LoA from Karnataka Renewable Energy Development Ltd (KREDL) for establishing a 300 MW solar project at Karnataka's Pavagada Solar Park. This brings the company's total locked-in generation capacity to 16 GW and its energy storage capacity to 4.2 GWh.

JSW Energy aims to achieve an installed generation capacity of 10 GW by FY25, up from the current 7.5 GW, and a target of 20 GW generation capacity with 40 GWh of energy storage before 2030. The company is also committed to achieving Carbon Neutrality by 2050.

(With inputs from agencies.)