JSW Energy gains on securing multiple renewable energy projects
JSW Energy is currently trading at Rs. 692.00, up by 13.55 points or 2.00% from its previous closing of Rs. 678.45 on the BSE.
The scrip opened at Rs. 683.75 and has touched a high and low of Rs. 699.30 and Rs. 683.05 respectively. So far 51668 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 804.95 on 24-Sep-2024 and a 52 week low of Rs. 397.70 on 21-Dec-2023.
Last one week high and low of the scrip stood at Rs. 699.30 and Rs. 660.00 respectively. The current market cap of the company is Rs. 120622.24 crore.
The promoters holding in the company stood at 69.32%, while Institutions and Non-Institutions held 24.70% and 5.98% respectively.
JSW Energy has secured multiple renewable energy (RE) projects in the Commercial and Industrial (C&I) power market, achieving a total locked-in generation capacity of 20 GW. The company's locked in RE C&I capacity stands at 3.1 GW, which includes 2,654 MW of JSW group captive capacity and 445 MW of third-party C&I capacity. Currently, the operational C&I capacity of the company stands at 488 MW.
In recent developments, the Company’s step-down subsidiaries have executed PPAs with DCM Shriram and Indus Towers for the supply of RE power. These strategic partnerships underscore the Company's commitment towards sustainable energy solutions. Subsequent to this, the company's total locked-in generation capacity has increased to 20 GW.
The company aims to achieve 10 GW operational capacity by FY 2025 and currently has 7.7 GW of operational capacity spread across thermal, hydro and RE. The company also has 16.2 GWh of locked-in energy storage capacity through 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. The company has set an ambitious target of achieving Carbon Neutrality by 2050.
JSW Energy, part of the JSW Group, is a growing energy company. The Group has diversified interests in carbon steel, power, mining, industrial gases, port facilities, aluminium, cement and information technology.