JSW Energy shines as its arm signs licensing agreement to manufacture wind turbine blades
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JSW Energy is currently trading at Rs. 667.00, up by 22.75 points or 3.53% from its previous closing of Rs. 644.25 on the BSE.
The scrip opened at Rs. 644.45 and has touched a high and low of Rs. 667.50 and Rs. 638.00 respectively. So far 81802 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. 375.20 on 01-Nov-2023.
Last one week high and low of the scrip stood at Rs. 693.00 and Rs. 634.85 respectively. The current market cap of the company is Rs. 112870.89 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’s stepdown subsidiary -- JSW Renewable Technologies Two has entered into technology licensing agreement with SANY Renewable Energy Co for manufacturing of wind turbine blades in India for captive usage by the Company.
The strategic intent to venture into WTG blade manufacturing is to ensure a reliable and assured supply of equipment for captive usage along with a significant saving on the overall project cost. Currently, the company has a total installed wind project capacity of 2.2 GW, with an additional 2.8 GW of wind projects currently under construction or in the pipeline.
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 for 50% reduction in carbon footprint by 2030 and achieving Carbon Neutrality by 2050. Currently the Company has total locked-in generation capacity of 19.2 GW comprising of 7.7 GW operational, 7.9 GW under-construction across wind, thermal and hydro and 3.5 GW of pipeline capacity where LoAs are signed. In addition, the company has total 16.2 GWh of locked-in energy storage capacity by means of battery energy storage system and hydro pumped storage project.
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.
