900 per cent returns and FIIs & DIIs increase stake: This Multibagger Power Stock Signs PPA for 700 MW ISTS-Connected Solar Capacity with SJVN in Rajasthan!

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

JSW Renew Energy, a subsidiary of JSW Energy, has finalized a Power Purchase Agreement (PPA) with SJVN Limited for a previously announced 700 MW ISTS-connected solar project in Rajasthan. This agreement confirms the project details, including a 25-year term and a tariff of Rs 2.52 per kWh. The project is expected to be commissioned within the next two years and will add to JSW Energy's total locked-in solar capacity, bringing it to 3.5 GW.

Recently, JSW Neo Energy was 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. The company aims 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 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.