JSW Energy Expands Renewable Portfolio and Dives into Green Hydrogen Market
Key Ideas
  • JSW Energy hits a new all-time high as its subsidiary, JSW Neo Energy, secures a 300 MW ISTS-connected wind-solar hybrid power project from SECI, boosting its locked-in capacity to 13.6 GW.
  • The company aims to enhance its energy solutions by venturing into green hydrogen and derivatives, targeting 40 GWh / 5 GW of energy storage capacity by 2030 and committing to carbon neutrality by 2050.
  • In FY24, JSW Energy records significant growth in net generation, revenue, EBITDA, and PAT, showcasing a strong financial performance and robust liquidity position.
  • JSW Energy raised ₹5,000 crores through a Qualified Institutions Placement (QIP) in April 2024, signaling its strategic investment plans and commitment to sustainable energy initiatives.
JSW Energy's shares surged to a new peak after its subsidiary, JSW Neo Energy, bagged a 300 MW wind-solar hybrid power project award from SECI. This addition propelled JSW Energy's locked-in capacity to 13.6 GW, with plans to reach 9.8 GW installed generation capacity by 2024. The company is embracing green energy solutions by entering the green hydrogen market, securing agreements for significant green hydrogen capacities and actively participating in India's clean energy transition. JSW Energy aspires to achieve carbon neutrality by 2050 while targeting substantial energy storage capacity growth by 2030. Financially, JSW Energy showcased remarkable performance in FY24, with notable increases in net generation, revenue, EBITDA, and PAT. The company's liquidity remained strong, with a significant cash reserve. JSW Energy's equity raise through QIP underscores its commitment to sustainable energy projects and signifies a strategic move towards enhancing its renewable energy portfolio and green hydrogen initiatives.
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