JSW Energy hits 20 GW locked-in generation capacity – CNBC TV18

JSW Energy shares gained more than 2% in early trade on Monday, December 16, after the company said it has achieved a significant milestone by reaching a locked-in generation capacity of 20 gigawatt (GW), marking its position as a leading player in India’s renewable energy (RE) sector.

This achievement includes securing multiple renewable energy projects in the Commercial and Industrial (C&I) power market, further strengthening its portfolio, the company informed the stock exchanges in a filing.

The company’s locked-in RE C&I capacity now stands at 3.1 GW, comprising 2,654 megawatts (MW) of JSW Group captive capacity and 445 MW of third-party C&I capacity. Out of this, 488 MW is currently operational, JSW Energy said in the stock exchange filing.

As part of its recent expansion, JSW Energy’s subsidiaries signed power purchase agreements (PPAs) with major corporations, including DCM Shriram Ltd and Indus Towers Ltd, to supply renewable energy.

“I am pleased to share that JSW Energy has reached the milestone of being a 20 GW generation platform. The C&I segment presents exceptional opportunities for a sustainable future. Our recent partnerships underscore our execution capabilities and commitment to supplying sustainable energy. By leveraging our expertise, we provide bespoke solutions, ensuring both value and reliability for our partners’ energy demands while reducing carbon footprints,” Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, said.

Currently, JSW Energy operates 7.7 GW of generation capacity across thermal, hydro, and renewable energy assets. The company aims to increase its operational capacity to 10 GW by FY 2025, driven by ongoing developments in RE and energy storage.

JSW Energy has also committed to advancing its energy storage capabilities, with a locked-in capacity of 16.2 gigawatt-hours (GWh) through battery energy storage systems and hydro-pumped storage projects.

The company has set an ambitious target of reaching 40 GWh of energy storage capacity and achieving carbon neutrality by 2050.

With its growing focus on the C&I power market, JSW Energy continues to position itself as a key enabler of India’s energy transition.

Shares of JSW Energy were trading 1.89% higher at ₹691.3 apiece on the BSE at 9:50 am.

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