JSW Energy starts operations at the 225 MW solar project

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JSW Renewable Energy Vijayanagar, a subsidiary of JSW Energy, has commenced operations at its 225 MW solar plant at Vijayanagar in Karnataka, which is part of earlier announced projects. JSW Energy had earlier signed agreements with group firm JSW Steel to develop 958 MW solar and wind projects under a 25-year power purchase agreement, it said in a statement.

“Commencement of operations at the plant within the scheduled timelines is a key landmark for the company and testament to its world-class project execution capabilities. In the coming months, we remain upbeat to commence operations of our under-construction pipeline of 2GW wind projects, in phases. We will continue to contribute meaningfully in achieving India’s renewable capacity-add and net-zero ambition driven targets,” JSW Energy joint managing director and chief executive officer Prashant Jain said.

The project commenced operations in less than 12 months despite several headwinds like Covid-19 related disruptions, elevated commodity prices and global supply chain outages.

Apart from this, the company is also constructing 2.25 GW of greenfield renewable energy capacity in pursuit of reaching 10 GW capacity by FY25, and 20 GW capacity by FY30, it added.

JSW Energy has a target for a 50% reduction in carbon footprint by 2030 and achieving carbon neutrality by 2050 by transitioning towards renewable energy.The company has set a target to reach 20 GW capacity by 2030, with the share of renewable energy increasing to 85% of the total. Around 2.25 GW of renewable energy projects are currently under-construction and wind projects of 1.26 GW tied with Solar Energy Corporation of India are expected to be commissioned in the next 12 months.

With the commissioning of these projects, the company’s total generation capacity will increase to about 7 GW, with renewable energy share amounting to about 55%.

The company is securing resources of more than 20GW capacity in various resource-rich states. Further, the company is evaluating opportunities for expansion into emerging energy businesses of hydro pumped storage, battery energy storage, green hydrogen and energy products and services.

JSW Energy, which began commercial operations in 2000 with the commissioning of its first 2×130 MW thermal power plants at Vijayanagar, has a power generation capacity of 4,559 MW. The portfolio includes thermal (3,158 MW), hydel (1,391 MW) and solar (10 MW).