JSW Energy Expands Renewable Energy Portfolio with New Wind Power Plant
JSW Renew Energy Two Limited, a subsidiary of JSW Energy, has successfully commissioned a new wind power project with a capacity of 300 MW in Tuticorin, Tamil Nadu. This significant development was announced on September 15, 2023, marking a notable step in the company’s commitment to enhancing its renewable energy contributions. Following this announcement, JSW Energy’s shares experienced a modest rise of 1.01%, closing at Rs 767.90 on the Bombay Stock Exchange (BSE). The recent increase has boosted the company’s market capitalization to an impressive Rs 1.34 lakh crore. Over the past year, this stock has demonstrated robust performance, yielding a 93 percent return to its investors.
Key Details of the Wind Power Project
JSW Renew Energy Two Ltd’s latest project is a wind power initiative that has been awarded by the Solar Energy Corporation of India (SECI) Tranche X. The wind power facility in Tuticorin represents the company’s inaugural greenfield wind plant for SECI. The newly installed capacity is anticipated to significantly bolster the company’s renewable energy portfolio, aligning with its vision of fostering a green and sustainable energy future.
Project Expansion and Future Capacity Goals
In addition to the 300 MW wind power capacity successfully commissioned, JSW Energy is also making strides with an additional 150 MW capacity located in Dharapuram, Tamil Nadu, which is anticipated to come online soon. As of now, 138 MW of this additional capacity has already been commissioned. With these developments, the total installed capacity of JSW Energy now stands at 7,726 MW, while another 2,114 MW of capacity is under construction, scheduled to be commissioned by the end of FY2025. Presently, the company’s operational wind energy capacity is at 2,152 MW.
Leadership Insights
Sharing his thoughts on this accomplishment, Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, stated, “Today JSW Energy proudly commissioned its first greenfield wind power plant for SECI, which underscores our robust execution capabilities and our commitment to a greener future for India.” He further reiterated the company’s ambitious goals, noting, “This achievement propels us closer to our target of reaching 10 GW of installed capacity by FY25.” Additionally, Mahendra emphasized the strong pipeline of renewable energy projects aimed at achieving a target of 20 GW by 2030, expressing gratitude towards the dedicated team and partners for their unwavering support.
Stock Performance Overview
| Metric | Value |
|---|---|
| Current Share Price | Rs 767.90 |
| Market Capitalization | Rs 1.34 lakh crore |
| 52-week High | Rs 775 |
| 52-week Low | Rs 347.50 |
| 1-Year Return | 93% |
Conclusion
JSW Energy continues to position itself as a key player in the renewable energy landscape of India. With its recent project in Tuticorin and a commitment to expanding its portfolio, the company is not only contributing to the country’s clean energy goals but also providing substantial returns for its investors. As JSW Energy moves towards its ambitious targets, stakeholders can expect more innovation and advancements in the coming years.
