JSW Energy Gets SECI LOA For 300 MW Wind Energy Project

By Saur News Bureau/ Updated On Thu, Jul 14th, 2022

Highlights :

Won with a bid of Rs 2.94 /unit in May this year, the LOA takes JSW’s total pipeline of renewable projects to 2.2 GW

JSW Energy Gets SECI LOA For 300 MW Wind Energy Project

JSW Neo Energy Limited, a wholly owned subsidiary of JSW Energy Limited, has received Letter of Award (LoA) for a total Wind capacity of 300 MW from Solar Energy Corporation of India Limited (SECI).

The company had won the 300 MW capacity at Rs 2.94/unit in the tariff based competitive bid invited by SECI for setting up of 1200 MW ISTS-connected Wind Power Projects (Tranche – XII) in May this year.

Subsequently the company’s total power generation portfolio increases to 7.3 GW, with renewable energy share amounting to 57%. The company is currently constructing around 2.0 GW of wind energy projects. Of which projects of 1.26 GW (tied up with SECI) are expected to start commissioning in current quarter in a phased manner.

Prashant Jain, Joint Managing Director and CEO of JSW Energy, said: “We are pleased to have received the award from SECI under its tranche XII auction. This is another step in our renewable led growth strategy and we will continue to contribute meaningfully in achieving India’s renewable and net-zero ambitions”.

Part of the USD 22 billion JSW Group which has a significant presence in sectors such as steel, energy, infrastructure, cement, sports among others. JSW Energy Ltd has established its presence across the value chains of the power sector with diversified assets in power generation, and transmission. JSW Energy has set an ambitious target for a 50% 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 85%. Around 2.2 GW of renewable energy projects are currently under-construction, Wind projects of 1.26 GW tied with SECI, are expected to be fully commissioned in the next 12-15 months. With the commissioning of these projects, the Company’s total generation capacity will increase to ~7 GW. Further, this 300 MW project takes the total capacity to 7.3 GW, with renewable energy share amounting to 57%.