JSW Neo Energy bags 500 MW solar project from SECI

JSW Neo Energy has secured a contract to develop a 500 MW inter-state transmission system (ISTS) connected solar project along with 250 MW/500 MWh of energy storage systems from SECI.

New Delhi: JSW Energy announced on Monday that its subsidiary, JSW Neo Energy, has secured a contract to develop a 500 MW inter-state transmission system (ISTS) connected solar project, in addition to 250 MW/500 MWh of energy storage systems from the Solar Energy Corporation of India (SECI). JSW Neo has received a Letter of Award (LoA) for setting up a 500 MW ISTS-connected Solar Power Project along with 250 MW/500 MWh of Energy Storage Systems from SECI. This comes after a tariff-based Competitive Bid was invited for setting up 1,200 MW ISTS-connected Solar Power Projects alongside 600 MW / 1,200 MWh of Energy Storage Systems (Tranche XV), according to a company statement.

JSW Neo has also secured an LoA from Karnataka Renewable Energy Development Ltd (KREDL) to establish a 300 MW solar project at Pavagada Solar Park, Karnataka, the company stated separately. Following this capacity award, the company's total locked-in generation capacity has increased to 16GW, with a locked-in energy storage capacity of 4.2 GWh. JSW Energy aims to achieve an installed generation capacity of 10 GW by FY25, up from 7.5 GW presently. The company is targeting a generation capacity of 20 GW and an energy storage capacity of 40 GWh by 2030. JSW Energy has set an ambitious target of achieving Carbon Neutrality by 2050.