"JSW Neo Energy Awarded Letter of Intent for 192 MW Hybrid Project by GUVNL".

JSW Neo Energy Ltd, a wholly-owned subsidiary of JSW Energy Ltd, has received a Letter of Intent (LoI) from Gujarat Urja Vikas Nigam Ltd (GUVNL), a Gujarat government entity responsible for bulk electricity sale and purchase, to develop a 192 MW grid-connected hybrid power project. The project also includes an additional 96 MW under a green shoe option. This capacity was awarded following tariff-based competitive bidding for setting up 500 MW Grid-connected Hybrid Power Projects (Phase II), with a green shoe option for additional capacity up to 500 MW, according to the company's regulatory filing.

With this new project, JSW Neo Energy's total locked-in generation capacity now reaches 16.2 GW, including 2.1 GW of hybrid capacity. The company currently has an installed generation capacity of 7.5 GW and aims to increase this to 10 GW by FY25. This project marks another step towards expanding its energy solution offerings and transitioning into an energy products and services company.

JSW Energy also boasts 4.2 GWh of locked-in energy storage capacity through a battery energy storage system and hydro pumped storage project. The company has set an ambitious goal of achieving 20 GW of generation capacity and 40 GWh of energy storage capacity by 2030, with a long-term objective of becoming carbon neutral by 2050.

HBL