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JSW Energy moves up as its arm gets LoA for ISTS-connected solar capacity of 700 MW from SJVN
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JSW Energy is currently trading at Rs. 527.85, up by 3.85 points or 0.73% from its previous closing of Rs. 524.00 on the BSE.
The scrip opened at Rs. 525.50 and has touched a high and low of Rs. 532.70 and Rs. 523.05 respectively. So far 53762 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 537.90 on 26-Feb-2024 and a 52 week low of Rs. 204.80 on 27-Feb-2023.
Last one week high and low of the scrip stood at Rs. 537.90 and Rs. 480.50 respectively. The current market cap of the company is Rs. 86181.01 crore.
The promoters holding in the company stood at 73.38%, while Institutions and Non-Institutions held 17.86% and 8.76% respectively.
JSW Energy’s wholly owned subsidiary -- JSW Neo Energy has received Letter of Awards (LoA) for ISTS-connected solar capacity of 700 MW from SJVN, against Tariff based Competitive Bid invited for setting up of 1,500 MW ISTS-connected Solar Power Projects. Following the award of 700 MW capacity from SJVN, the Company's total locked-in capacity increases to 11.0 GW comprising of 1.4 GW of solar capacity. The project is required to supply power of full contracted capacity within 24 months from the effective date of PPA.
JSW Energy has total locked-in generation capacity of 11.0 GW comprising of 7.2 GW operational, 2.6 GW under-construction across wind, thermal and hydro and LoAs for 1.2 GW capacity from SECI (Tranche - XVI) and SJVN. In addition, the Company has 3.4 GWh of locked-in energy storage capacity by means of battery energy storage system and hydro pumped storage project. The Company expects to have 9.8 GW of operational generation capacity by CY2024, up from current operational capacity of 7.2 GW. The Company aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity by 2030. JSW Energy has set an ambitious target for 50% reduction in carbon footprint by 2030 and 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.
