JSW Neo Energy Secures 192 MW Hybrid Power Project from GUVNL

JSW Neo Energy Limited, a wholly owned subsidiary of JSW Energy Limited, has received a Letter of Intent (LoI) from Gujarat Urja Vikas Nigam Limited (GUVNL) for a 192 MW Grid-connected Hybrid Power Project. This includes an additional 96 MW under the green shoe option, awarded as part of a tariff-based competitive bid for a total of 500 MW Grid-connected Hybrid Power Projects (Phase II), with an option for an additional 500 MW.

Following this award, JSW Energy’s total locked-in generation capacity will rise to 16.2 GW, which includes a total of 2.1 GW in Hybrid capacity. The company aims to expand its installed generation capacity to 10 GW by FY25, up from the current 7.5 GW. This project reinforces JSW Energy’s position in the energy sector, enhancing its portfolio as it transitions towards becoming a comprehensive energy products and services provider.

Currently, JSW Energy’s locked-in generation capacity stands at 16.2 GW, consisting of 7.5 GW operational, 2.3 GW under construction across wind, thermal, and hydro, and a renewable energy (RE) pipeline of 6.3 GW (with Power Purchase Agreements for 2.0 GW). Additionally, the company holds 4.2 GWh of locked-in energy storage capacity through battery storage and hydro pumped storage projects. JSW Energy has set a target to achieve 20 GW of generation capacity and 40 GWh of energy storage by 2030, with an ambitious goal of becoming carbon neutral by 2050.