JSW Neo Energy bags 300MW wind-solar hybrid project from NTPC

New Delhi: JSW Energy on Friday said its arm JSW Neo Energy has received a Letter of Award (LoA) from NTPC for setting up a 300 MW wind-solar hybrid power project.

Following this capacity award, the company’s total locked-in generation capacity has risen to 16.7 GW, which includes a total locked-in hybrid capacity of 2.6 GW, a company statement said.

This project enhances the company's energy solution offerings and supports its transition towards becoming an energy products and services company, it said.

JSW Energy has total locked-in generation capacity of 16.7 GW comprising 7.5 GW operational, 2.3 GW under construction across wind, thermal and hydro and RE pipeline of 6.9 GW.

The firm also has 4.2 GWh of locked-in energy storage capacity through a 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 aims to achieve carbon neutrality by 2050.

In a separate statement, JSW Energy said its subsidiary JSW Renew Energy Twenty Ltd has signed a power purchase agreement (PPA) with Bangalore Electricity Supply Company for a solar capacity of 300 MW awarded by Karnataka Renewable Energy Development.

The PPA is signed for the supply of power until FY 2044 with a tariff of Rs 2.89/KWh. The project is located in Pavagada Solar Park, Karnataka and is expected to be commissioned in the next 18 months.

The current solar pipeline capacity stands at 3.2 GW with PPAs signed for 1.3 GW.