Solar-Wind Power Generation Company signs PPA with Amazon for 180 MW Wind Power
The stock is up by 13 per cent from its 52-week low of Rs 439.35 per share.
JSW Neo Energy, a wholly owned subsidiary of JSW Energy Limited, has signed a renewable energy (RE) power purchase agreement (PPA) with Amazon for 180 MW of wind power. Following this agreement, the Company’s locked-in RE Commercial and Industrial (C&I) capacity stands at 4.0 GW. This comprises 2.7 GW of JSW group captive capacity and 1.3 GW of third-party C&I capacity, including capacity to be acquired from O2 Power.
The Company’s C&I portfolio includes prominent customers such as Amazon, DCM Shriram Ltd, and Indus Towers Ltd. These strategic partnerships underscore the Company's commitment towards sustainable energy solutions.
Currently, the Company has 8.2 GW of operational generation capacity spread across thermal, hydro and RE and a locked-in generation capacity of 30 GW. The company also has 16.3 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 significantly before 2030.
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About JSW Energy Ltd
JSW Energy Ltd is one of the leading Private sector power producers in India and part of the USD 24 billion JSW Group which has a significant presence in sectors such as steel, energy, infrastructure, cement, and sports among others. JSW Energy Ltd has established its presence across the value chains of the power sector with diversified assets in power generation, and transmission. With strong operations, robust corporate governance and prudent capital allocation strategies, JSW Energy continues to deliver sustainable growth and create value for all stakeholders. JSW Energy began commercial operations in 2000, with the commissioning of its first 2x130 MW thermal power plants at Vijayanagar, Karnataka.
The company has a market cap of over Rs 85,000 crore and has been maintaining a healthy dividend payout of 27.5 per cent. As of December 2024, the Life Insurance Corporation of India (LIC) owns a 6.92 per cent stake. The stock is up by 13 per cent from its 52-week low of Rs 439.35 per share. Investors should keep an eye on this mid-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.