JSW Energy stock gains on commissioning 300 MW wind power project in Tamil Nadu

JSW Energy has a total locked-in generation capacity of 18.2 GW, comprising wind, solar, hydro and thermal power plants.

Shares of JSW Energy gained marginally on September 16 as the company announced on Sunday that its step-down subsidiary, JSW Renew Energy Two Ltd, has completed commissioning for a 300 MW ISTS-connected wind power project. The project was awarded by Solar Energy Corporation of India (SECI) tranche X and is located in Tuticorin, Tamil Nadu.

This marks the first-ever greenfield wind power plant commissioned by the company for SECI, the company said adding that the newly commissioned wind power project will contribute significantly to its renewable energy portfolio.

The additional 150 MW of wind capacity awarded under SECI Tranche X located at Dharapuram, Tamil Nadu is also nearing completion with 138 MW already commissioned, JSW Energy informed.

After this, the total current installed capacity stands at 7,726 MW while the under-construction capacity stands at 2,114 MW, which is expected to be commissioned by the end of FY 2025, the company further said. At present, its current installed wind capacity stands at 2,152 MW.

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Sharad Mahendra, Joint Managing Director and CEO of JSW Energy: “Today, JSW Energy proudly commissions its first greenfield wind power plant for SECI... Additionally, we have a robust pipeline of renewable projects, propelling us towards our goal of 20 GW before 2030."

JSW Energy has a total locked-in generation capacity of 18.2 GW, comprising wind, solar, hydro and thermal power plants. Its current renewable pipeline stands at 8.3 GW with PPAs signed for 2.3 GW. The company also has 4.2 GWh of locked-in energy storage capacity through battery energy storage system and hydro pump storage project.

JSW Energy aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. The company has set an ambitious target of achieving Carbon Neutrality by 2050.

At 9:56 am, JSW Energy shares were trading 0.2 percent higher at Rs 769.90 on NSE. The stock has rallied 87 percent so far this year, outperforming Nifty's returns of 14 percent. In the past 12 months, the counter has zoomed 95 percent, nearly doubling investors' capital. In comparison, Nifty rose 28 percent during this period.

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