JSW Neo Energy, a subsidiary of Indian company JSW Energy, has been awarded 500MW of wind capacity by the state-owned Solar Energy Corporation of India (SECI).
The award is a result of a competitive bidding process to build 1.35GW of interstate transmission system-connected wind power projects under the SECI’s tranche 16.
The bid structure includes an option to increase the awarded capacity by 700MW, potentially raising JSW Neo Energy’s total capacity to 1.02GW.
This “greenshoe” option allows for an additional 525MW over the initial award.
JSW Energy states that it could increase its installed generation capacity to 9.8GW for this year, up from a current capacity of 7.2GW.
The award under SECI tranche 16 will bring the company’s total committed capacity to 10.3GW.
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JSW Energy has outlined a strategic goal to achieve 20GW of generation capacity and 40 gigawatt-hours (GWh) of energy storage capacity by 2030.
The company has locked in 3.4GWh of energy storage capacity through battery energy storage systems and hydro-pumped storage projects.
These capacities are in line with the company’s sustainability objectives, which call for a carbon footprint reduction of 50% by 2030 and carbon neutrality by 2050.
To be located in the Indian states of Karnataka and Maharashtra, the wind farm will be built in phases and completed by the end of 2024.
It will generate 2.2TW of clean energy, contributing significantly to the country’s net-zero emissions goal.
In August 2022, the company agreed to acquire a 1.7GW portfolio of renewable energy from Mytrah Energy (India) for Rs105.3bn ($1.3bn).
The portfolio included 1.3GW of wind and 422MW of solar capacity.