JSW Energy shares climb 3% as arm commissions 51 MW of wind power capacity

Shares of JSW Energy Ltd climbed 3 per cent in Tuesday's trade after a wholly owned step-down subsidiary of the company commissioned 51 MW of wind power capacity under the phase-wise commissioning of the 810 MW ISTS-connected wind power project awarded under SECI Tranche IX.

Subsequent to this, JSW Energy said, its total current installed capacity stands 6,822 MW. JSW Energy said its under-construction capacity stands at 2,969 MW, which is likely to be commissioned in phases over the next 12 months.

On Tuesday, the JSW Energy stock rose 2.89 per cent to hit a Rs 421.40 on BSE.

Joint Managing Director and CEO Prashant Jain said: “We are happy to announce that we have started commissioning of the SECI-IX wind project which is the first and the largest greenfield wind capacity bagged by the company. With this, JSW Energy is well placed to achieve targeted 10 GW generation capacity by end of CY2024.”

Jain said JSW Energy has set a target to reach 20 GW generation capacity and 40 GWh of energy storage capacity by 2030. With a total capacity of 9.8 GW, JSW Energy said it is well-placed to achieve its near-term target of 10 GW by 2025.

"In addition, JSW Energy has currently locked in 3.4 GWh of energy storage capacity by means of battery energy storage system and hydro pumped storage project. JSW Energy has set an ambitious target for 50 per cent reduction in carbon footprint by 2030 and achieving Carbon Neutrality by 2050," JSW Energy said.