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JSW Energy stated that JSW ReNew Energy, its arm, has installed 27 MW of wind energy generation capacity at Tuticorin, Tamil Nadu as part the first phase for its 450-MW wind project.
“JSW Renew Energy Two Ltd is a step-down subsidiary of JSW Energy and has begun phase-wise commissioning of 450 MW ISTS connected wind power project, awarded under SECI (Solar Energy Corporation of India), tranche X at Tuticorin, Tamil Nadu, with commissioning of phase one of 27 MW,” a BSE filing stated.
It is the first greenfield project of its kind to be commissioned by the company and a testimony to the group’s project execution abilities, it said.
The power purchase agreement for the project is valid for 25 years. The company is also building 1.8 GW greenfield renewable energy capacity to reach 10 GW capacity before the FY25 deadlines. This will allow it to achieve 20 GW capacity by FY30.
Prashant Jain (Joint Managing Director and CEO at JSW Energy) stated in the statement that “We are happy to announce the first part commissioning of the SECI X wind project ahead of the schedule. This is an initial step towards progressive commissioning of the greenfield 450 MW wind project. With this, renewables capacity continues to gain share in our operational capacity mix as we are committed to achieving net zero by 2050.” JSW Energy has set an ambitious target for a 50 per cent reduction in its carbon footprint by 2030 and achieving carbon neutrality by 2050 by transitioning towards renewable energy.
The company set a goal to achieve 20 GW capacity by 2030. This will see renewable energy increase to 81%. Around 2.63 GW of renewable energy projects are currently under-construction/in-pipeline, with wind projects of 1.26 GW tied with SECI expected to be fully commissioned in the next 12-18 months.
The company also received a letter of award (LoA) from SECI for 300 MW wind projects under the tranche XII auction.
With the acquisition of Mytrah Energy’s 1.75 GW RE assets and 700 MW Ind-Barath Thermal Power Plant, total locked-in capacity will increase to 9.9 GW.
JSW Neo Energy stated that the company is looking at opportunities to enter emerging energy markets such as hydro pumped storage, batteries energy storage, green hydrogen and become an energy products and service company.
