JSW Neo Energy, a wholly owned subsidiary of JSW Energy received letter of award (LoA) for setting up of 700 MW ISTS connected solar power project from NTPC. The project is received from NTPC against tariff based competitive bid for setting 1,500 MW ISTS-connected Solar Power Projects (NTPC-ISTS-II).
Subsequent to this, the company's total locked-in generation capacity increases to 13.3 GW of which 3.1 GW comprises of solar power. The company’s current installed generation capacity is 7.2 GW and expects to have 9.8 GW of installed capacity by CY24.
The power generation company aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. JSW Energy has set an ambitious target of achieving carbon neutrality by 2050.JSW Energy is primarily engaged in the business of generation of power with principal places located at Vijayanagar (Karnataka), Ratnagiri (Maharashtra), Nandyal (Andhra Pradesh) and Salboni (West Bengal).
The company's consolidated net profit tumbled 28.79% to Rs 231.33 crore on 13.10% rise in net sales to Rs 2542.77 crore in Q3 FY24 over Q3 FY23.
