LIC-Backed Energy Company Signs PPAs for 1,325 MW of Renewable Energy Projects, FIIs Bought 8,68,64,064 Shares; Must Watch

The company’s shares have delivered an impressive multibagger returns of over 170 per cent in just 1 year.

JSW Neo Energy Limited, a subsidiary of JSW Energy Limited, has made significant strides in bolstering India's renewable energy sector. Recently, through its subsidiaries, JSW Neo Energy signed substantial Power Purchase Agreements (PPAs) for both wind and solar projects.

The wind projects, totalling 1,025 MW, are part of agreements with Solar Energy Corporation of India Limited (SECI) and Gujarat Urja Vikas Nigam Limited (GUVNL). These ventures, located in Gujarat and Karnataka, are slated for commissioning within 24 months. The projects carry a blended tariff of Rs 3.62/KWh and are expected to enhance JSW Energy's locked-in wind capacity to 4.8 GW.

In parallel, JSW Neo Energy secured a PPA for a 300 MW grid-connected solar project with GUVNL, situated in Gujarat's RE Park at Khavda (GSECL Stage-3). This solar initiative, also contracted for 25 years, features a competitive tariff of Rs 2.66/KWh and is set to be operational within 21 months. This move will elevate JSW Energy's locked-in solar capacity to 3.3 GW.

Overall, JSW Energy maintains a formidable position in the energy landscape with a total locked-in generation capacity of 13.6 GW. This figure comprises 7.3 GW operational, 2.6 GW under-construction spanning wind, thermal, and hydro sectors, and a renewable energy pipeline of 3.7 GW (with 1.3 GW already undersigned PPAs). Additionally, the company boasts 3.4 GWh of locked-in energy storage capacity through battery energy storage systems and hydro-pumped storage projects.

Looking ahead, JSW Energy aims for substantial growth, targeting a generation capacity of 20 GW and an energy storage capacity of 40 GWh by 2030. The company has also set a long-term goal of achieving Carbon Neutrality by 2050, underscoring its commitment to sustainable development and environmental stewardship.

With these ambitious plans and strategic investments in renewable energy, JSW Energy continues to play a pivotal role in India's journey towards a cleaner and more sustainable energy future.

Today the shares of JSW Energy are trading at around Rs 733.30 per share representing a gain of around 2.96 per cent on the BSE. Additionally, the shares have delivered a multibagger return of around 172 per cent in the past year.

Investors must keep this Large-Cap power stock on their radar.

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