JSW Energy Commences Solar Project Operations
JSW Renewable Energy (Vijayanagar) Limited, a subsidiary of JSW Energy Limited, has started up its 225 MW solar facility in Vijayanagar, Karnataka. This project is part of the Group Captive scheme’s previously announced 958 MW Solar and Wind Projects agreed (25-year PPA) with JSW Steel. Despite significant challenges such as Covid-19-related interruptions, elevated material prices, and global supply chain breakdowns, this solar project went live in less than 12 months.
Aside from that, the company is building 2.25 GW of greenfield renewable energy capacity in order to reach 10 GW by FY25 and 20 GW by FY30, all of which will be powered solely by renewables. “Commencement of operations at the 225 MW Solar facility within the projected deadlines is a critical milestone for the Company and evidence to its world-class project execution skills,” stated Prashant Jain, Joint Managing Director and CEO of JSW Energy. We remain optimistic that our under-construction pipeline of 2 GW wind projects will begin operations in phases in the coming months. We will continue to make a significant contribution to India’s renewable capacity addition and net-zero ambition-driven ambitions.”
JSW Energy Ltd
JSW Energy has set a lofty goal of reducing its carbon footprint by half by 2030 and becoming carbon neutral by 2050 by shifting to renewable energy. By 2030, the Company wants to reach a capacity of 20 GW, with renewable energy accounting for 85 percent of the total. Around 2.25 GW of renewable energy projects are now under construction, with 1.26 GW of wind projects linked to SECI scheduled to be operational within the next year.
The Company’s overall generation capacity will expand to 7 GW with a renewable energy contribution of around 55 percent after these projects are completed. The Company is acquiring resources with a capacity of more than 20 GW in a number of resource-rich states. In addition, the Company is assessing expansion prospects in the growing energy areas of hydro pumped storage, battery energy storage, green hydrogen, and energy products and services.
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