JSW Neo Energy secures 500MW solar project from SECI

JSW Energy announced on Monday that its subsidiary, JSW Neo Energy, has been awarded a contract to develop a 500 MW inter-state transmission system (ISTS) connected solar project. This project also includes a 250 MW/500 MWh energy storage system from the Solar Energy Corporation of India (SECI).

According to the company statement, JSW Neo Energy received the Letter of Award (LoA) for the 500 MW ISTS-connected Solar Power Project along with the 250 MW/500 MWh Energy Storage Systems. This award was part of SECI’s tariff-based competitive bidding for setting up 1,200 MW ISTS-connected solar power projects along with 600 MW / 1,200 MWh energy storage systems under Tranche XV.

Additionally, JSW Neo Energy received a separate LoA from Karnataka Renewable Energy Development Ltd (KREDL) to establish a 300 MW solar project at Pavagada Solar Park in Karnataka.

With these new projects, JSW Energy's total locked-in generation capacity has increased to 16 GW, while its total locked-in energy storage capacity has grown to 4.2 GWh. The company aims to achieve an installed generation capacity of 10 GW by the fiscal year 2025, up from the current 7.5 GW. By 2030, JSW Energy targets reaching 20 GW in generation capacity and 40 GWh in energy storage capacity.

JSW Energy has set a long-term goal of achieving carbon neutrality by 2050.

(With PTI inputs)