JSW Neo Energy, a wholly-owned subsidiary of JSW Energy has secured a letter of award (LoA) for setting up 300 MW ISTS-connected wind-solar hybrid power project from NTPC.

The order has been won against tariff based competitive bid invited for setting 1,000 MW hybrid power projects (NTPC-Tranche-VI).

With the awarded capacity, the company’s total locked-in generation capacity has risen to 16.7 GW, including a total locked-in hybrid capacity of 2.6 GW (including FDRE). Overall, the private sector power producer aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030.

JSW Energy has a target of achieving carbon neutrality by 2050. The company expects to have an installed generation capacity of 10 GW by FY25, up from 7.5 GW currently. This project supports its transition towards becoming an energy products and services company.

The company has a portfolio of thermal, wind, hydel and solar ensuring diversity in fuel sources and power off-take arrangements.