"JSW Neo Energy Ltd Secures Letter of Awards for 500 MW Wind Capacity from SECI - Tranche XVI"

JSW Neo Energy Limited, a subsidiary of JSW Energy Limited, has secured a significant win in the renewable energy sector. The company has received a Letter of Awards (LoA) from Solar Energy Corporation of India Limited (SECI) for a wind capacity of 500 MW. This award comes as part of SECI's competitive bidding process for setting up 1,350 MW ISTS-connected Wind Power Projects in Tranche XVI. Additionally, there is a greenshoe option of 700 MW available, potentially increasing JSW Neo's awarded capacity by up to 525 MW, to a maximum of 1,025 MW.

With this latest achievement, JSW Neo Energy continues to strengthen its position in the renewable energy market. The company aims to expand its installed generation capacity to 9.8 GW by CY24, up from the current 7.2 GW. Following the capacity awarded in SECI's Tranche XVI, JSW Neo's total locked-in capacity rises to 10.3 GW.

Looking ahead, JSW Neo Energy has set ambitious targets for the future. The company aims to reach a generation capacity of 20 GW and 40 GWh of energy storage capacity by 2030. Currently, JSW Neo has locked in 10.3 GW of generation capacity and 3.4 GWh of energy storage capacity through battery energy storage systems and hydro pumped storage projects. Additionally, JSW Energy has committed to a 50% reduction in carbon footprint by 2030 and aims to achieve carbon neutrality by 2050.

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