JSW Neo Energy Limited, a fully owned subsidiary of JSW Energy, has been awarded a Letter of Intent by Gujarat Urja Vikas Nigam Limited for a 192 MW grid-connected hybrid power project, with an additional 96 MW available through a green shoe option. This allocation comes from a competitive bid for Phase II of the 500 MW grid-connected hybrid power projects, which includes a green shoe option for up to 500 MW more.
Following this award, JSW Energy’s total locked-in generation capacity will increase to 16.2 GW, including 2.1 GW of hybrid capacity. The company aims to expand its installed generation capacity to 10 GW by FY25, up from the current 7.5 GW. This project will bolster JSW Energy’s energy solutions and advance its goal of becoming a comprehensive energy products and services provider.
JSW Energy’s portfolio now comprises 7.5 GW operational capacity, 2.3 GW under construction, and a 6.3 GW renewable energy pipeline (with PPAs for 2.0 GW). It also has 4.2 GWh of energy storage capacity. The company targets 20 GW of generation capacity and 40 GWh of storage by 2030 and strives for carbon neutrality by 2050.