JSW Neo Energy (JSW Neo) has received a letter of intent (LoI) from Gujarat Urja Vikas Nigam (GUVNL), for setting up 192 MW grid-connected hybrid power project, including an additional 96 MW under the green shoe option.

The capacity is awarded against tariff-based competitive bid invited for setting up of 500 MW grid connected hybrid power projects (Phase-II) along with a green shoe option for additional capacity up to 500 MW.

With this, the company's total locked-in generation capacity has increased to 16.2 GW including total locked-in hybrid capacity of 2.1 GW.

The company expects to have an installed generation capacity of 10 GW by FY25, up from 7.5 GW currently. The company has further strengthened its energy solution offerings while moving towards an energy products and services company.

JSW Energy has total locked-in generation capacity of 16.2 GW comprising of 7.5 GW operational, 2.3 GW under-construction across wind, thermal and hydro and RE pipeline of 6.3 GW (PPAs signed for 2.0 GW).

The company also has 4.2 GWh of locked-in energy storage capacity through battery energy storage system (BESS) and hydro pumped storage project.