JSW Energy Limited shares saw a 2 percent uptick in morning trading on February 27 following the announcement that its wholly owned subsidiary, JSW Neo Energy Limited, secured an order for 700 MW of ISTS-connected solar capacity from SJVN.
According to a regulatory filing, the project is mandated to deliver power at full contracted capacity within 24 months. With the addition of this 700 MW capacity from SJVN Ltd, JSW Energy’s total locked-in capacity rises to 11 GW, including 1.4 GW of solar capacity.
JSW Energy currently holds a total locked-in generation capacity of 11.0 GW, comprising 7.2 GW operational capacity, 2.6 GW under construction (across wind, thermal, and hydro), and letter of approvals (LoAs) for an additional 1.2 GW capacity from SECI (Tranche – XVI) and SJVN.
Additionally, the company boasts 3.4 GWh of locked-in energy storage capacity through a mix of battery energy storage systems and a hydro-pumped storage project. In the December quarter, the JSW Group entity reported a 24.36 percent year-on-year increase in consolidated net profit, fueled by robust contributions from its thermal portfolio and merchant sales.
Revenue also witnessed a healthy uptick of 13.3 percent, reaching Rs 2,661.41 crore.
As of 9:45 am, the stock was trading at Rs 528, marking a 0.8 percent increase from the previous close. Year-to-date, the stock has gained 29 percent.
