JSW Neo Energy bags 200 MW wind-solar hybrid project

New Delhi: JSW Energy announced on Tuesday that its subsidiary, JSW Neo Energy, has received a Letter of Award (LoA) from the Maharashtra State Electricity Distribution Company (MSEDCL) for the development of a wind-solar hybrid power project.

This 200 MW wind-solar hybrid power project was awarded to JSW Neo Energy following a competitive tariff-based bidding process, according to a statement from JSW Energy. The successful bid reinforces the company's commitment to expanding its renewable energy portfolio.

As a result of this latest capacity addition, JSW Neo Energy’s total locked-in generation capacity has now increased to 17.2 GW. This capacity includes a total locked-in hybrid capacity of 2.9 GW, which encompasses Firm Dispatchable Renewable Energy (FDRE) systems.

JSW Energy's overall locked-in generation capacity of 17.2 GW is composed of 7.5 GW of operational capacity, 2.3 GW currently under construction across wind, thermal, and hydro sectors, and a renewable energy pipeline of 7.3 GW, with Power Purchase Agreements (PPAs) already signed for 2.3 GW.

The company is on track to achieve an installed generation capacity of 10 GW by FY25, a significant increase from its 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.

Looking ahead, JSW Energy aims to reach a generation capacity of 20 GW and expand its energy storage capacity to 40 GWh by 2030. These targets align with the company's ambitious goal of achieving carbon neutrality by 2050.