Solar power company bags 200 MW wind-solar hybrid power project from Maharashtra State Electricity Distribution Company Ltd (MSEDCL)
The stock gave multibagger returns of 115 per cent in just 1 year whereas BSE Sensex Index is up by 26 per cent.
JSW Neo Energy Limited (JSW Neo), a wholly-owned subsidiary of JSW Energy Limited, has received a Letter of Award (LoA) for setting up a 200 MW Wind-Solar Hybrid Power Project from Maharashtra State Electricity Distribution Company Limited (MSEDCL) against Tariff based Competitive Bid (MSEDCL – Phase III).
As a result of this capacity award, the Company’s total locked-in generation capacity has increased to 17.2 GW, which includes a total locked-in Hybrid capacity of 2.9 GW (including FDRE). The Company expects to have an installed generation capacity of 10 GW by FY25, up from 7.5 GW currently. This project enhances the company’s energy solution offerings and supports its transition towards becoming an energy products and services company.
JSW Energy has a total locked-in generation capacity of 17.2 GW comprising 7.5 GW operational, 2.3 GW under construction across wind, thermal and hydro and RE pipeline of 7.3 GW (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.
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.
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JSW Energy initiated operations in 2000 with its initial 2x130 MW thermal power plants in Vijayanagar, Karnataka, and has grown its generation capacity to an impressive 7,189 MW. Their diversified portfolio includes thermal (3,508 MW), wind (1,615 MW), hydro (1,391 MW), and solar (675 MW) power sources, ensuring a wide range of geographic locations, fuel types, and power arrangements. JSW Energy is actively constructing power projects with a total potential of 2.6 GW, aiming to reach a remarkable 20 GW power generation capacity by 2030.
The company has a market cap of over Rs 1,20,000 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 115 per cent in just 1 year whereas BSE Sensex Index is up by 26 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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