JSW Neo Energy, a wholly owned subsidiary of JSW Energy received a letter of intent (LoI) for grid connected solar capacity of 300 MW from Gujarat Urja Vikas Nigam (GUVNL).
The LoI was received against tariff based competitive bid for setting up of 1,125 MW grid connected solar power projects to be set-up in Gujarat State Electricity Corporations RE Park at Khavda.The current installed generation capacity is 7.2 GW, of which 675 MW is solar. The company expects to have 9.8 GW of installed capacity by CY24. With the awarded capacity of 300 MW under GSECL Stage-3, the company's total locked-in generation capacity increases to 12 GW, of which 2.4 GW will be solar.
JSW Energy has total locked-in generation capacity of 12 GW comprising of 7.2 GW operational, 2.6 GW under-construction across wind, thermal and hydro and LoAs for 2.2 GW capacity from SECI (Solar Tranche XIII and Wind Tranche XVI) and SJVN and GUVNL.
In addition, the company has 3.4 GWh of locked-in energy storage capacity by means of battery energy storage system and hydro pumped storage project. It aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030.
JSW Energy is primarily engaged in the business of generation of power with principal places located at Vijayanagar (Karnataka), Ratnagiri (Maharashtra), Nandyal (Andhra Pradesh) and Salboni (West Bengal).
The company's consolidated net profit tumbled 28.79% to Rs 231.33 crore on 13.10% rise in net sales to Rs 2542.77 crore in Q3 FY23 over Q3 FY22.
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Shares of JSW Energy rose 0.23% to Rs 476.95 on the BSE.
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