The new project increases JSW Energy’s total locked-in generation capacity to 19.6 GW. Credit: Quality Stock Arts/Shutterstock.

JSW Neo Energy, a subsidiary of JSW Energy, has received a letter of award (LoA) from India’s National Thermal Power Corporation (NTPC) to develop a 400MW ISTS [interstate transmission system]-connected solar power project.

The award is part of NTPC’s tariff-based competitive bidding process for the 1500MW ISTS-connected solar projects referred to as NTPC-ISTS-III, as reported by the Business Standard.  

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The new project increases JSW Energy’s total locked-in generation capacity to 19.6GW, including 4.4GW for solar projects.

JSW Energy currently operates 7.7GW of capacity across thermal, hydro and renewable energy. The company aims to achieve a 10GW operational capacity by the financial year 2025 (FY25).

The company also has 16.2 gigawatt hours (GWh) of energy storage capacity via battery storage and hydro-pumped storage projects.

By 2030, JSW Energy plans to reach 20GW of generation capacity and 40GWh of energy storage capacity, with a long-term goal of achieving carbon neutrality by 2050.

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JSW Energy operates primarily in power generation, with key locations in Vijayanagar (Karnataka), Ratnagiri (Maharashtra), Nandyal (Andhra Pradesh) and Salboni (West Bengal).

The company’s consolidated net profit rose slightly to Rs 8.53bn ($100.73m) in the second quarter (Q2) of FY25 compared to Rs 8.50bn in Q2 FY24. However, net sales slightly declined to Rs 32.38bn in Q2 FY25 from Rs 32.59bn in Q2 FY24.

JSW Energy ventured into the energy storage services sector by commencing construction of a 1GWh battery energy storage system in Fatehgarh, Rajasthan.

This BESS facility will store power generated by renewable sources such as solar and wind, to be released during peak demand periods.

It comprises two units, each with a capacity of 500 megawatt hours, capable of two hours of storage per cycle.

JSW Energy also plans to establish a wind turbine blade manufacturing unit in Karnataka, India, for its exclusive use.

The move aims to reduce reliance on imports and ensure a steady supply of wind turbine generators, resulting in potential cost savings on renewable projects.

The proposed facility represents a strategic move to strengthen JSW Energy’s position in the renewable energy sector.