Construction Industry News
JSW Energy has announced that its subsidiary JSW ReNew Energy has completed the first phase of its 450 MW wind project by commissioning 27 MW of wind power generation capacity in Tuticorin, Tamil Nadu.
“JSW Renew Energy Two Ltd, a step-down subsidiary of JSW Energy, has commenced phase-commissioning of 450 MW ISTS-connected wind power project awarded under SECI (Solar Energy Corporation of India) tranche X at Tuticorin in Tamil Nadu with commissioning of the first phase of 27 MW," according to a BSE filing.
According to the company, this is the first greenfield wind energy project to be commissioned and demonstrates the group's project execution capabilities.
The project has a power purchase agreement with the SECI for a period of 25 years. In addition to this project, the company is building 1.8 GW of greenfield renewable energy capacity to reach 10 GW capacity by FY25 and 20 GW by FY30.
Joint Managing Director and CEO of JSW Energy, Prashant Jain, said in the statement: “We are pleased to announce the first partial commissioning of the SECI X wind project ahead of schedule. This is a first step towards gradual commissioning of the greenfield 450 MW wind project, which will continue to provide renewable energy capacity with a greater share of our operational capacity mix as we commit to achieving net zero by 2050.”
JSW Energy has set itself an ambitious goal to halve its carbon footprint by 2030 and become carbon neutral by 2050 by switching to renewable energy.
In addition, the company received a LoA (letter of award) from SECI under its tranche XII auction for a 300 MW wind project. Total locked capacity will increase to 9.9 GW with the acquisition of Mytrah Energy's 1.75 GW RE assets and 700 MW Ind-Barath Thermal Power Plant.
As part of the company's reorganization, JSW Neo Energy, a wholly owned subsidiary of JSW Energy, was established as a vehicle to take ownership of all renewable/green and new energy businesses.
According to the company, it is exploring opportunities to enter the emerging energy sectors of green hydrogen, hydropump storage, battery energy storage, and energy products and services.
