JSW Neo Energy Secures 600 MW Hybrid Power Project in Maharashtra

JSW Neo Energy Limited, a wholly-owned subsidiary of JSW Energy Limited, has been awarded a 600 MW wind-solar hybrid power project by Maharashtra State Electricity Distribution Company Limited (MSEDCL). The project, part of MSEDCL’s Phase IV initiative, includes 400 MW allocated under a green shoe option.

The shares of JSW Energy Limited were trading at ₹743.30, up by ₹12.55 or 1.72 per cent, on the NSE at 10 am.

This award increases JSW Energy’s total locked-in generation capacity to 18.2 GW, with 3.8 GW in hybrid capacity. The company aims to reach 10 GW of installed generation capacity by FY25, from 7.5 GW currently. JSW Energy’s portfolio now spans thermal, wind, hydro, and solar power sources.

The company targets achieving 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. JSW Energy also aims for carbon neutrality by 2050. This latest project aligns with the company’s strategy to expand its renewable energy offerings and transition towards becoming a comprehensive energy products and services provider.