JSW Energy stock hits new all-time high as subsidiary wins 300 MW wind-solar hybrid project
₹740 apiece by gaining 2.25% in today's early morning trade after the company announced that its wholly owned subsidiary -JSW Neo Energy Limited received a Letter of Award (LoA) for setting up a 300 MW ISTS-connected wind-solar hybrid power project from Solar Energy Corporation of India Limited (SECI) against a tariff-based competitive bid invited for setting up 1,200 MW ISTS-connected wind-solar hybrid power projects (Tranche VIII).Subsequent to this capacity award, the company's total locked-in capacity increases to 13.6 GW. The company expects to have an installed generation capacity of 9.8 GW by CY24, up from 7.3 GW currently.Also Read: Multibagger Garden Reach Shipbuilder share price rises 7% on a $54 million orderWith this hybrid project, the company strengthens its energy solution offerings while moving towards an energy products and services company.The company said it has a total locked-in generation capacity of 13.6 GW, comprising 7.3 GW operational, 2.6 GW under construction across wind, thermal, and hydro, and a pipeline of 3.7 GW.
In addition, the company has 3.4 GWh of locked-in energy storage capacity through a battery energy storage system and hydro-pumped storage project.The company is tapping into a significant clean energy market opportunity in India, positioning itself as a front-runner in the future hydrogen economy. It has signed an offtake agreement with JSW Steel for 3,800 tonnes per year of green hydrogen.
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