New Delhi: JSW Energy on Tuesday said it has bagged a 700 Megawatt (MW) solar project from state-owned SJVN Limited.
The project has been secured by its subsidiary JSW Neo Energy Ltd (JSW Neo) against a tariff-based competitive bid invited for setting up of 1,500 MW (Interstate Transmission System) ISTS-connected solar power projects, JSW Energy said in an exchange filing.
Following the letter of award (LoA) of 700 MW capacity from SJVN Ltd, the company's total locked-in capacity increased to 11.0 Gigawatt (GW) comprising 1.4 GW of solar capacity, it said.
The project is required to supply power of full contracted capacity within 24 months from the effective date of the Power Purchase Agreement (PPA).
Further, JSW Energy said it has a total locked-in generation capacity of 11.0 GW, which includes 7.2 GW in operation, 2.6 GW under construction in wind, thermal, and hydro, and LoAs for 1.2 GW capacity from SECI (Tranche - XVI) and SJVN.
In addition, the company has 3.4 GWh of locked-in energy storage capacity by means of a battery energy storage system and hydro-pumped storage project.
The company expects to have 9.8 GW of operational generation capacity by CY2024, up from the current operational capacity of 7.2 GW.
JSW Energy has set an ambitious target for a 50 percent reduction in carbon footprint by 2030 and achieving Carbon Neutrality by 2050.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)