JSW Neo Secures 192 MW Hybrid Power Project From GUVNL

JSW Neo Energy Limited (JSW Neo), received a Letter of Intent (LoI) from Gujarat Urja Vikas Nigam Limited (GUVNL), for a 192 MW grid-connected hybrid power project, including an additional 96 MW under the green shoe option.

JSW Neo Energy, a subsidiary of JSW Energy was awarded this project against a tariff-based competitive bid invited for setting up of 500 MW grid-connected hybrid power projects (Phase II) along with a green shoe option for additional capacity up to 500 MW.

After this capacity award, the company’s total locked-in generation capacity increases to 16.2 GW including a total locked-in Hybrid capacity of 2.1 GW. It expects to have an installed generation capacity of 10 GW by FY25, up from 7.5 GW currently.

With this project, the company further strengthens its energy solution offerings while moving towards an energy products and services company. JSW Energy has a total locked-in generation capacity of 16.2 GW comprising 7.5 GW operational, 2.3 GW under construction across the wind, thermal, and hydro, and RE pipeline of 6.3 GW (PPAs signed for 2.0 GW).

The company also has 4.2 GWh of locked-in energy storage capacity through a battery energy storage system and a hydro-pumped storage project. The company aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. 

JSW Energy Ltd has established its presence across the value chains of the power sector with assets diversified in power generation, and transmission. JSW Energy began commercial operations in 2000, with the commissioning of its first 2×130 MW thermal power plants at Vijayanagar, Karnataka. Since then, the company has enhanced its power generation capacity from 260 MW to 7,536 MW having a portfolio of Thermal 3,508 MW, Wind 1,962 MW, Hydel 1,391 MW, and Solar 675 MW ensuring diversity in geographic presence, fuel sources, and power off-take arrangements. The company is presently constructing various power projects to the tune of 2.6 GW, with a vision to achieve a total power generation capacity of 20 GW before the year 2030.