JSW Energy shares rise 3% after securing multiple renewable energy projects

Shares of JSW Energy gained 3 per cent at 699.30 per share on the BSE in Monday’s intraday deals. This came after the company announced that it has secured multiple renewable energy (RE) projects in the Commercial and Industrial (C&I) power market, achieving a total locked-in generation capacity of 20 GW. 

 

The company's locked-in RE C&I capacity stands at 3.1 GW, which includes 2,654 MW of JSW group captive capacity and 445 MW of third-party C&I capacity. Currently, the operational C&I capacity of the company stands at 488 MW, the company said in a statement on Monday. 

 

The company aims to achieve 10 GW operational capacity by FY 2025 and currently has 7.7 GW of operational capacity spread across thermal, hydro and RE. 

 

It also has 16.2 GWh of locked-in energy storage capacity through battery energy storage system and hydro pumped storage project. JSW Energy 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.

 

The private power producer reported a flat net profit of Rs 853.25 crore, a slight increase from Rs 850.16 crore in the same quarter of the previous year. The company’s revenue from operations also saw a minor decline of about 1 per cent, totaling Rs 3,237.66 crore for the period.

 

JSW Energy Infrastructures reported a significant increase in its standalone net profit, reaching Rs 58.25 crore for the September quarter, driven by higher income. This compares to Rs 11.02 crore in the same period of the previous fiscal year (July-September 2023-24). 

 

The company has a total market capitalization of Rs 12,796.91 crore. Its shares are trading at a price to earnings multiple of 87.92 times and at an earning per share of Rs 4.79. 

 

At 11:56 AM; the shares of the company were up 1.97 per cent at Rs 691.80 a piece. By comparison, the BSE Sensex was trading 0.54 per cent lower at 81,686.89 level. 

 

JSW Energy is a private sector power producer in India and part of the JSW Group, is committed to sustainable growth and providing green energy access to all. The company has a diverse portfolio of power generation assets, including thermal, hydro, and solar power. 

 

JSW Energy is a leader in renewable energy in India, with its JSW Solar division offering EPC and O&M services for solar PV plants. The division also aims to develop a portfolio of energy storage solutions and micro-grids.