Solar Power Company Bags 400 MW ISTS-Connected Solar Capacity from NTPC Ltd
The company has a market cap of over Rs 1,00,000 crore and has been maintaining a healthy dividend payout of 27.5 per cent.
JSW Neo Energy Limited, a wholly owned subsidiary of JSW Energy Limited, has received a Letter of Award (LoA) for setting up a 400 MW ISTS connected Solar Power Project from NTPC Limited against Tariff based Competitive Bid invited for setting up 1,500 MW ISTS-connected Solar Power Projects (NTPC-ISTS-III). After this, the Company's total locked-in generation capacity increases to 19.6 GW of which 4.4 GW comprises Solar projects.
JSW Energy aims to achieve 10 GW operational capacity by FY 2025 and currently has 7.7 GW of operational capacity spread across thermal, hydro and RE. The company also has 16.2 GWh of locked-in energy storage capacity through battery energy storage systems and hydro-pumped storage projects. 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.
About JSW Energy Ltd
JSW Energy Ltd is one of the leading Private sector power producers in India and part of the USD 24 billion JSW Group which has a significant presence in sectors such as steel, energy, infrastructure, cement, and sports among others. JSW Energy Ltd has established its presence across the value chains of the power sector with diversified assets in power generation, and transmission. With strong operations, robust corporate governance and prudent capital allocation strategies, JSW Energy continues to deliver sustainable growth and create value for all stakeholders. JSW Energy began commercial operations in 2000, with the commissioning of its first 2x130 MW thermal power plants at Vijayanagar, Karnataka.
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Since then, the company has steadily enhanced its power generation capacity from 260 MW to 7,740 MW having a portfolio of Thermal 3,508 MW, Wind 2,166 MW, Hydel 1,391 MW and Solar 675 MW ensuring diversity in geographic presence, fuel sources and power off-take arrangements. The Company is presently constructing various power projects to the tune of 2.1 GW, with a vision to achieve a total power generation capacity of 20 GW before the year 2030
The company has a market cap of over Rs 1,00,000 crore and has been maintaining a healthy dividend payout of 27.5 per cent. As of September 2024, the Life Insurance Corporation of India (LIC) owns a 7.16 per cent stake. The stock is up by over 70 per cent from its 52-week low of Rs 397.70 per share. Investors should keep an eye on this mid-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.