JSW Energy Stock Gains On 600 MW Wind-solar Hybrid Project

JSW Energy's stock price moved higher in the Tuesday trading session after its wholly owned subsidiary, JSW Neo Energy received an award of 600 MW of wind-solar hybrid power project from Maharashtra State Electricity Distribution Company.

JSW Energy stock traded at Rs 741 with a 1.45 per cent gain in the morning session on the National Stock Exchange (NSE).

JSW Neo Energy, a wholly owned subsidiary of JSW Energy, has received a letter of award for 600 MW of wind-solar hybrid power project, including 400 MW allotted under the green shoe option from Maharashtra State Electricity Distribution Company against MSEDCL-Phase IV,” stated JSW Energy in an exchange filing.

The company also highlighted that after the letter of award, the company's total locked-in generation capacity has also increased.

As a result of this capacity award, the company's total locked-in generation capacity has increased to 18.2 GW, which includes a total locked-in hybrid capacity of 3.8 GW. The company expects to have an installed generation capacity of 10 GW by FY 25, up from 7.5 GW currently, said the company.

The company also has 4.2 GWh of locked-in energy storage capacity through a battery energy storage system and hydro-pumped storage project. It aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030.

In terms of stock performance, JSW Energy stock delivered nearly 80 per cent return in the year 2024 so far against the sectoral index Nifty Energy return of 25 per cent year-to-date (YTD). (With inputs from ANI)