JSW Energy Secures Additional 400 MW Wind-Solar Hybrid Power Project from MSEDCL

Mumbai, India – August 29, 2024
JSW Neo Energy Limited, a wholly-owned subsidiary of JSW Energy Limited, has received a Letter of Award (LoA) for an additional 400 MW of Wind-Solar Hybrid Power Project from the Maharashtra State Electricity Distribution Company Limited (MSEDCL) under the greenshoe option. With this award, the total capacity allotted to JSW Neo Energy under MSEDCL Phase III now stands at 600 MW.

Expansion of JSW Energy's Capacity

This award marks a significant step in expanding JSW Energy’s renewable energy portfolio, increasing its total locked-in generation capacity to 17.6 GW. This includes a 3.2 GW hybrid capacity, encompassing wind, solar, and battery storage technologies. The company is on track to reach an installed generation capacity of 10 GW by FY25, up from its current capacity of 7.5 GW.

JSW Energy's Growth Strategy and Future Plans

Current Capacity: 7.5 GW (Thermal: 3,508 MW, Wind: 1,962 MW, Hydel: 1,391 MW, Solar: 675 MW)

Under-Construction Projects: 2.3 GW across wind, thermal, and hydro sectors.

Renewable Energy Pipeline: 7.7 GW, with Power Purchase Agreements (PPAs) signed for 2.3 GW.

Energy Storage Capacity: 4.2 GWh locked in via battery energy storage systems and hydro pumped storage projects.

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Ambitious Target for 2030

JSW Energy has set a target to achieve a total generation capacity of 20 GW and an energy storage capacity of 40 GWh by 2030. The company is also committed to achieving Carbon Neutrality by 2050, underscoring its dedication to sustainable and green energy solutions.

About JSW Energy Limited

JSW Energy Limited, part of the USD 24 billion JSW Group, is one of India’s leading private sector power producers. With a diversified portfolio across power generation, transmission, and renewable energy, JSW Energy continues to create value for its stakeholders through robust operations, strong corporate governance, and prudent capital allocation. The company commenced its commercial operations in 2000 and has steadily increased its capacity to 7,536 MW, with a focus on thermal, wind, hydro, and solar power generation.

Forward-Looking Statements
This release contains forward-looking statements, which are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. The company does not undertake to update any forward-looking statements made from time to time.

Conclusion
JSW Energy's latest award for an additional 400 MW Wind-Solar Hybrid Power Project from MSEDCL reinforces its position as a leading player in India's renewable energy sector. With a strong focus on green energy transition and ambitious growth targets, the company is well-positioned to achieve sustainable growth and contribute to India’s energy goals.

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