Wind Power Company Commissions 300 MW Wind Power Capacity awarded under SECI-X
The stock gave multibagger returns of 100 per cent in just 1 year whereas BSE Sensex Index is up by 23 per cent.
JSW Energy Ltd announced that its step-down subsidiary, JSW Renew Energy Two Limited, has successfully completed commissioning for the 300 MW ISTS-connected wind power project awarded by Solar Energy Corporation of India (SECI) tranche X located at Tuticorin, Tamil Nadu.
This marks the first-ever greenfield wind power plant commissioned by the company for SECI. The newly commissioned wind power project will contribute significantly to our renewable energy portfolio, supporting our vision of a greener and sustainable future. 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.
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’s current installed wind capacity stands at 2,152 MW.
JSW Energy has a total locked-in generation capacity of 18.2 GW comprising of wind, solar, hydro and thermal power plants. The Company’s 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 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 has set an ambitious target of achieving Carbon Neutrality by 2050.
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JSW Energy Ltd, a prominent player in India's private power sector, is a member of the expansive USD 23 billion JSW Group. The group holds positions in various industries, including steel, energy, infrastructure, cement, and sports. JSW Energy Ltd. possesses a strong presence throughout the power sector, with assets spanning power generation and transmission. The company's dedication to robust operations, sound corporate governance and prudent capital allocation strategies has fostered sustainable growth and value creation for its stakeholders.
The company has a market cap of over Rs 1,34,000 crore and has been maintaining a healthy dividend payout of 27.5 per cent. In June 2024, FIIs increased their stake to 15.37 per cent from 8.37 per cent in March 2024 while Life Insurance Corporation of India (LIC) owns a 7.05 per cent stake as of March 2024. The stock gave multibagger returns of 100 per cent in just 1 year whereas BSE Sensex Index is up by 23 per cent. Investors should keep an eye on this mid-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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