JSW Receives LoA For 700 MW ISTS Solar Capacity From SECI

JSW Neo Energy Limited, a wholly owned subsidiary of JSW Energy Limited, received Letter of Award (LoA) for Inter-State Transmission System (ISTS) connected solar capacity of 700 MW from Solar Energy Corporation of India Limited (SECI). JSW received this award, against Tariff Based Competitive Bid (TBCB) invited for setting up of 1,500 MW ISTS-connected solar power projects.

JSW‘s current installed generation capacity is currently 7.2 GW and it’s expected to have 9.8 GW of installed capacity by CY24. With this awarded capacity of 700 MW under SECI Tranche XIII, the company’s total locked-in generation capacity increased to 11.7 GW out of which 2.1 GW will be solar.

JSW Energy has total locked-in generation capacity of 11.7 GW comprising of 7.2 GW of operational capacity. Additionally, the company has 2.6 GW under-construction across wind, thermal and hydro and LoAs for 1.9 GW capacity from SECI (Solar Tranche XIII and Wind Tranche XVI) and SJVN.

The company has 3.4 GWh of locked-in energy storage capacity by means of battery energy storage system (BESS) and hydro pumped storage project. The company aim to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. JSW Energy has set an ambitious target for 50% reduction in carbon footprint by 2030 and achieving carbon neutrality by 2050.

Earlier this year, JSW received an award against tariff based competitive bid for setting up of 1,350 MW ISTS-connected Wind Power Projects (Tranche – XVI). As per the design of the bid, 700 MW of greenshoe option was available over the awarded capacity. This could further enhance the company’s total awarded capacity by 525 MW to a maximum of 1,025 MW.

The company is expected to have 9.8 GW of installed generation capacity by CY24, up from 7.2 GW currently. Following the capacity award under SECI Tranche XVI, the company’s total locked-in capacity increased to 10.3 GW. The company has set a target to reach 20 GW generation capacity and 40 GWh of energy storage capacity by 2030. The company has currently locked in 10.3 GW of generation capacity and 3.4 GWh of energy storage capacity by means of battery energy storage system and hydro pumped storage project. JSW Energy has set an ambitious target for 50% reduction in carbon footprint by 2030 and achieving Carbon Neutrality by 2050.