 "JSW Energy")
JSW Energy on Monday said that its arm JSW ReNew Energy has commissioned 27 MW wind energy generation capacity at Tuticorin in Tamil Nadu as part of the first phase of its 450 MW wind project.
"JSW Renew Energy Two Ltd, a step-down subsidiary of JSW Energy, has started phase-wise commissioning of 450 MW ISTS-connected wind power project awarded under SECI (Solar Energy Corporation of India) tranche X at Tuticorin in Tamil Nadu with commissioning of the first phase of 27 MW," a BSE filing stated.
This is the company's first greenfield wind power project to be commissioned and is a testament of the group's project execution capabilities, it stated.
The project has the power purchase agreement with the SECI for a period of 25 years. In addition to this project, the company is also constructing 1.8 GW of greenfield renewable energy capacity in pursuit of reaching 10 GW capacity well ahead of its FY25 timelines, and 20 GW capacity by FY30.
Prashant Jain, Joint Managing Director and CEO of JSW Energy, said in the statement, "We are happy to announce the first part commissioning of the SECI X wind project ahead of the schedule. This is an initial step towards progressive commissioning of the greenfield 450 MW wind project. With this, renewables capacity continues to gain share in our operational capacity mix as we are committed to achieving net zero by 2050."
JSW Energy has set an ambitious target for a 50 per cent reduction in its carbon footprint by 2030 and achieving carbon neutrality by 2050 by transitioning towards renewable energy.
The company has set a target to reach 20 GW capacity by 2030, with the share of renewable energy increasing to 81 per cent. Around 2.63 GW of renewable energy projects are currently under-construction/in-pipeline, with wind projects of 1.26 GW tied with SECI expected to be fully commissioned in the next 12-18 months.
Further, the company has received LoA (letter of award) for 300 MW wind project from SECI under its tranche XII auction.
With the acquisition of Mytrah Energy's 1.75 GW RE assets and 700 MW Ind-Barath Thermal Power Plant, total locked-in capacity will increase to 9.9 GW.
The JSW Neo Energy, a wholly-owned subsidiary of JSW Energy, is a vehicle formed as part of re-organisation of business to own all the renewable/green and new energy businesses.
The company is evaluating opportunities to foray into emerging energy businesses of hydro pumped storage, battery energy storage, green hydrogen, and becoming an energy products and services company, it stated.
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