900 per cent returns and FIIs & DIIs increase stake: This multibagger power sector stock secures major order for a 300 MW wind-solar hybrid power project!

Shares of the company gained more than 70 per cent in the last six months.

JSW Neo Energy, a subsidiary of JSW Energy, has been awarded a 300 MW wind-solar hybrid power project by SJVN Limited. This comes after a competitive bidding process for a total of 1,500 MW of such projects.

This award increases JSW Energy's total locked-in generation capacity to 13.9 GW. They aim to have 9.8 GW of installed capacity by the end of 2024, up from the current 7.3 GW. This project highlights JSW Neo's commitment to expanding their renewable energy offerings and transforming into an energy products and services company.

JSW Energy, part of the JSW Group, is a growing energy company. The Group has diversified interests in carbon steel, power, mining, industrial gases, port facilities, aluminium, cement, and information technology.

JSW Energy's total generation capacity includes operational plants (7.3 GW), under-construction projects (2.6 GW across wind, thermal and hydro), and a pipeline of renewable energy projects (4.0 GW with signed power purchase agreements for 1.3 GW). The company also boast 3.4 GWh of energy storage capacity through battery and hydro storage projects. The company’s ambitious goals include reaching 20 GW of generation capacity and 40 GWh of energy storage by 2030, while achieving carbon neutrality by 2050.

The stock has delivered multibagger returns of over 900 per cent in the last five years and FIIs & DIIs increased their stake in the company in April 2024.

The stock has shown impressive growth, and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.