One of the top private sector power producers in India, JSW Energy, witnessed its shares jump over 4% in early morning trading to ₹739 a share. This increase came after it was announced that the company’s fully owned subsidiary had signed Power Purchase Agreements (PPAs) for 1,325 MW of solar and wind projects through its subsidiaries.

These agreements include 300 MW with Gujarat Urja Vikas Nigam Limited (GUVNL) and 1,025 MW with the Solar Energy Corporation of India Limited (SECI) for the supply of power for a 25-year period at a rate of ₹2.66/KWh.

By 2030, the company aims to have 40 GWh of energy storage capacity and 20 GW of generating capacity. The ambitious goal of JSW Energy is to become carbon neutral by 2050.

As of 11:15 AM, JSW Energy were trading 3.17% at Rs 734.65.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.

After the company announced that its wholly owned subsidiary, JSW Neo Energy Limited, obtained a Letter of Award (LoA) for establishing 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), JSW Energy shares reached new all-time high of ₹740 apiece in today’s early morning trade.

Following this capacity award, the company’s total locked-in capacity rises to 13.6 GW. The company intends to have 9.8 GW of installed generating capacity by CY24, up from 7.3 GW currently.

With this hybrid project, the firm moves toward becoming a provider of energy solutions and services while strengthening its energy solution offerings.

The company stated that it had a total locked-in generation capacity of 13.6 GW, with 7.3 GW operating, 2.6 GW under construction across wind, thermal, and hydro, and a pipeline of 3.7 GW. The firm also includes a hydro-pumped storage project and a battery energy storage system that provides 3.4 GWh of locked-in energy storage capacity.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.