JSW Energy shines as its arm signs PPA with SECI for 300 MW wind power project

JSW Energy is currently trading at Rs. 270.15, up by 10.05 points or 3.86% from its previous closing of Rs. 260.10 on the BSE.

jsw energy in talks to acquire gmrs thermal power plant in odisha
JSW Energy

The scrip opened at Rs. 261.00 and has touched a high and low of Rs. 271.00 and Rs. 259.65 respectively. So far 11697 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 369.00 on 05-Sep-2022 and a 52 week low of Rs. 182.00 on 20-Jun-2022.

Last one week high and low of the scrip stood at Rs. 271.00 and Rs. 255.00 respectively. The current market cap of the company is Rs. 42778.01 crore.

The promoters holding in the company stood at 74.66%, while Institutions and Non-Institutions held 15.24% and 10.10% respectively.

JSW Energy’s wholly-owned stepdown subsidiary — JSW Renew Energy Three has signed Power Purchase Agreement (PPA) with Solar Energy Corporation of India (SECI) for 300 MW ISTS connected wind power projects awarded under SECI Tranche-XII. The PPA is signed for supply of power for a period of 25 years with a tariff of Rs 2.94/KWh. The aforesaid project is located in Maharashtra and is expected to be commissioned in next 24 months.

The company has set a target to reach 20 GW capacity by 2030 and near-term target of 10 GW by 2025, with a total locked-in capacity of 9.9 GW the company is well placed to achieve its targets well ahead of time. In addition, the company has forayed into energy storage space and has currently locked in 3.4 GWh of energy storage capacity by means of battery energy storage system and hydro pumped storage project. Also, JSW Energy has set an ambitious target for 50% reduction in carbon footprint by 2030 and achieving Carbon Neutrality by 2050 by transitioning towards renewable energy.

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.

Leave a Comment