JSW Energy Stock On Record-high After Deals With SJVN
JSW Energy stock has delivers 171 per cent return in 2024 so far, while in the last three months the stock clocks 40 per cent gain
The stocks of JSW Energy surged to its record high level of Rs 752 in the Monday trading session after the firm informed that its subsidiaries signed multiple contracts with Satluj Jal Vidyut Nigam (SJVN).
JSW Energy stocks traded with 1.42 per cent gain at Rs 744 in the afternoon session on the National Stock Exchange (NSE).
Notably, JSW Energy stock delivered 171 per cent return in 2024 so far, while in the last three months the stock clocked 40 per cent gain.
Letter of Award from SJVN For 300 MW Wind-Solar Hybrid Power Projects
“This is to inform you that JSW Neo Energy a wholly-owned subsidiary of the company, has received a letter of award for wind-solar hybrid power projects of 300 MW against tariff based competitive bid invited by SJVN for setting up of 1,500 MW ISTS connected wind-solar hybrid power projects (Hybrid-2),” stated JSW Energy in a regulatory filing.
Subsequent to this capacity award, the JSW Energy’s total locked-in capacity increases to 13.9 GW. The company expects to have an installed generation capacity of 9.8 GW by CY24, up from 7.3 GW currently.
Power Purchase Agreement with SJVN
“JSW Renew Energy (Raj), a wholly-owned step-down subsidiary of the company, signed a power purchase agreement (PPA) with SJVN for a period of 25 years with a tariff of Rs 2.52 per KWh for the above capacity,” stated JSW Energy in a regulatory filing.
The aforesaid project is located in Rajasthan and is expected to be commissioned in next 24 months. This will take the total locked-in solar capacity to 3.5 GW.
JSW Energy has total locked-in generation capacity of 13.9 GW comprising 7.3 GW operational, 2.6 GW under-construction across wind, thermal and hydro and RE pipeline of 4.0 GW (PPAs signed for 2.0 GW).
The company also has 3.4 GWh of locked-in energy storage capacity through battery energy storage system and hydro pumped storage project. The Company aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. JSW Energy has set an ambitious target of achieving carbon neutrality by 2050.
