JSW Energy wind power

JSW Energy Commissions Its First 300 MW Wind Power Project, Aiming for 20 GW by 2030

JSW Energy has taken a massive leap in its renewable energy journey by commissioning its first-ever 300 MW wind power project. This move not only expands its green energy portfolio but also sets the stage for achieving its ambitious 20 GW capacity target by 2030. Let’s dive into the details of this milestone and what it means for the future of renewable energy in India.

JSW Energy’s Game-Changing 300 MW Wind Power Project

In a significant development for India’s renewable energy sector, JSW Energy’s step-down subsidiary, JSW Renew Energy Two Ltd, announced the successful commissioning of a 300 MW Inter-State Transmission System (ISTS)-connected wind power project. Located in Tuticorin, Tamil Nadu, the project was awarded under Solar Energy Corporation of India (SECI) Tranche X.

This marks JSW Energy’s first greenfield wind project, a milestone that reinforces the company’s growing presence in the renewable energy space. The newly commissioned project is expected to make a significant contribution to JSW’s renewable portfolio, aligning with its long-term sustainability goals.

What’s Next? Additional Wind Capacity Already Nearing Completion

JSW Energy isn’t stopping with this 300 MW project. An additional 150 MW of wind power capacity under SECI Tranche X is nearing completion at Dharapuram, Tamil Nadu, with 138 MW already commissioned. The company expects to have the full capacity operational soon.

With these additions, JSW Energy’s total current installed capacity stands at an impressive 7,726 MW, while another 2,114 MW is under construction and slated for completion by FY 2025. Of its installed capacity, 2,152 MW comes from wind energy alone, making JSW a key player in India’s wind energy market.

JSW Energy’s Ambitious Renewable Goals: 20 GW by 2030

Speaking about the company’s renewable energy ambitions, Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, stated, “Today, JSW Energy proudly commissions its first greenfield wind power plant for SECI. Additionally, we have a robust pipeline of renewable projects, propelling us towards our goal of 20 GW before 2030.”

JSW Energy has outlined a comprehensive strategy to reach a total locked-in generation capacity of 18.2 GW, spread across wind, solar, hydro, and thermal power plants. The company’s current renewable pipeline stands at 8.3 GW, with Power Purchase Agreements (PPAs) signed for 2.3 GW. Moreover, the company has secured 4.2 GWh of energy storage capacity through its battery energy storage systems and hydro pump storage projects.

Aiming for Carbon Neutrality by 2050

JSW Energy’s green vision doesn’t end with capacity targets. The company has set an ambitious goal of achieving carbon neutrality by 2050, signaling its commitment to reducing carbon emissions and contributing to a sustainable future. This aligns with global efforts to combat climate change and positions JSW Energy as a forward-thinking leader in renewable energy.

Stock Performance: JSW Energy Shares Continue to Outperform

At 9:56 am on September 16, JSW Energy shares were trading 0.2% higher at ₹769.90 on the National Stock Exchange (NSE). The stock has been on an impressive rally, gaining 87% so far in 2024 and outperforming Nifty’s returns of 14% during the same period. Over the past 12 months, JSW Energy shares have skyrocketed by 95%, nearly doubling investors’ capital, compared to Nifty’s 28% rise.

This stellar stock performance reflects growing investor confidence in JSW Energy’s renewable energy ambitions and its ability to deliver on its sustainability goals. The company’s strong pipeline of projects and robust financials make it a standout performer in the Indian energy market.

Conclusion:

JSW Energy’s commissioning of its first 300 MW wind power project is a significant milestone in its journey towards achieving 20 GW of renewable capacity by 2030. With a growing portfolio of wind, solar, and energy storage projects, the company is well on its way to becoming a renewable energy powerhouse in India. For investors, this is just the beginning of JSW Energy’s green growth story, as it continues to outperform the market and solidify its leadership in the energy transition.