JSW Neo Energy, a subsidiary of JSW Energy, announced that it has received a letter of award (LoA) from NTPC for setting up a 300 MW ISTS-connected wind-solar hybrid power project. The award comes as part of a tariff-based competitive bid invited for the establishment of 1,000 MW ISTS-connected Wind-Solar Hybrid Power Projects under NTPC Tranche-VI.
With this new capacity award, JSW Energy’s total locked-in generation capacity has increased to 16.7 GW, which includes 2.6 GW of hybrid capacity (including FDRE). The company aims to achieve an installed generation capacity of 10 GW by FY25, up from the current 7.5 GW.
Additionally, JSW Energy has secured 4.2 GWh of energy storage capacity through battery energy storage systems and hydro pumped storage projects.
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The company has set a target to reach 20 GW of generation capacity and 40 GWh of energy storage capacity by 2030. JSW Energy is also committed to achieving carbon neutrality by 2050.
“This project enhances the company’s energy solution offerings and supports its transition towards becoming an energy products and services company,” the company said.
In a separate announcement, JSW Renew Energy Twenty, a step-down subsidiary of JSW Energy, revealed that it has signed a Power Purchase Agreement (PPA) with Bangalore Electricity Supply Company (BESCOM) for a 300 MW solar capacity awarded by Karnataka Renewable Energy Development Limited (KREDL).
The PPA, which is effective until FY2044, is set at a tariff of Rs 2.89/KWh. The project is located in Pavagada Solar Park, Karnataka, and is expected to be commissioned within the next 18 months.
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