JSW Neo Energy Limited (JSW Neo), a wholly-owned subsidiary of JSW Energy, has announced that it has received a Letter of Award (LoA) for an inter-state transmission system (ISTS) connected solar capacity of 700 MW from the Solar Energy Corporation of India Limited (SECI). This award comes against a tariff-based competitive bid invited for setting up 1,500 MW of ISTS-connected solar power projects.

This significant development is part of JSW Neo's strategic plan to expand its renewable energy portfolio. The company's current installed generation capacity stands at 7.2 GW. With the addition of this awarded capacity of 700 MW under SECI Tranche XIII, the company's total locked-in generation capacity increases to 11.7 GW, of which 2.1 GW will be solar.

Find Solar Power Projects and Tenders in IndiaGet Started Now!

JSW Neo Energy's ambitious growth strategy aims to reach 20 GW of generation capacity and 40 GW of energy storage capacity before 2030. The company has set a target for a 50% reduction in carbon footprint by 2030 and achieving carbon neutrality by 2050. This aligns with the global shift towards renewable energy and the Indian government's commitment to increasing the share of clean energy in the country's power mix.

This project will not only contribute to India's renewable energy capacity but also create jobs and stimulate economic activity. It will play a crucial role in reducing the country's carbon emissions and helping to achieve the targets set under the Paris Agreement.

Objectives of the Project

Expansion of JSW Energy's Renewable Energy Generation: The main objective for JSW Energy is to expand its solar power portfolio and contribute to its target of reaching 10 GW of solar capacity by 2030.

Reduction of Carbon Footprint: JSW Energy has set a target for a 50% reduction in its carbon footprint by 2030. This project is a step towards achieving this goal, as solar power is a clean and renewable source of energy.

Contribution to India's Clean Energy Goals: The project aligns with India's national goal of achieving 40% of its installed power capacity from non-fossil sources by 2030. By developing this large-scale solar project, JSW Energy and SECI are contributing to reducing the country's dependence on fossil fuels and promoting clean energy adoption.

About JSW Neo Energy

JSW Neo Energy Limited, a wholly-owned subsidiary of JSW Energy Limited, is a leading player in India's power sector. Incorporated on July 6, 2021, the company is headquartered in Mumbai, Maharashtra. It was formed as part of a business reorganization to own all the renewable/green and new energy businesses of JSW Energy.

JSW Neo Energy is committed to becoming the country's strongest full-service power company with the most efficient utilization of resources. The company's operations extend across several Indian states, and it also has stakes in natural resource companies in South Africa.

To learn more about the renewable energy projects executed by JSW Neo Energy, check out our Indian renewable energy database.

Discover the Latest Renewable Energy Projects with Ease

Are you looking for a platform that gives you reliable, high-quality, and timely project insights for the latest renewable energy projects in India?

Discover the Global Project Tracking (GPT) platform by Blackridge Research, designed to provide you with the most recent updates regarding Renewable Energy Projects in India and faster across various stages of development:

• Upcoming projects
• Tender Notices
• Contract award announcements
• Projects in progress or under construction
• Successfully completed projects.

The user-friendly interface helps you obtain early-stage awareness of projects and find the right business opportunity quickly.

With its user-friendly interface, this platform empowers you to gain early-stage awareness of projects and swiftly identify the right business opportunities.

Each project will have all the essential details, such as scope, capacity, CapEx, status, project description, companies involved, funding information, location, periodic updates, important event dates like construction start date, commissioning dates, and key contact information of project owners and stakeholders.

Book a free demo to learn more about the Renewable Energy Projects and Tenders database and how we can help you achieve your goals