JSW Energy said that its wholly owned subsidiary JSW Neo Energy has received a letter of intent (LoI) from the Government of Himachal Pradesh for allotment of 126 MW Chhatru Hydro Electric Power Plant (HEP).
The said project, awarded on BOOT (build, own, operate and transfer) basis, has operational life of 40 years.
JSW Neo Energy, a wholly owned subsidiary of JSW Energy, is a vehicle formed as a 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 & services company.
JSW Energy is one of the leading private sector power producers in India and part of the $22 billion JSW Group. JSW Energy has presence across the value chains of the power sector with diversified assets in power generation, and transmission.
The company's consolidated net profit surged 178.7% to Rs 560.43 crore in Q1 FY23, as against Rs 201.10 crore in Q1 FY22. Net sales climbed 75.2% YoY to Rs 3,026.27 crore in Q1 FY23.
The scrip fell 3.95% to currently trade at Rs 332.05 on the BSE.
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