JSW Neo Energy Limited
New Project Award:
JSW Neo Energy Limited, a subsidiary of JSW Energy Limited, received a Letter of Award (LoA) for an additional 400 MW Wind-Solar Hybrid Power Project from Maharashtra State Electricity Distribution Company Limited (MSEDCL) under Phase III, increasing its capacity under this phase to 600 MW.
Increased Generation Capacity:
With this award, JSW Neo’s total locked-in generation capacity has increased to 17.6 GW, which includes 3.2 GW of locked-in Hybrid capacity.
The company aims to have an installed generation capacity of 10 GW by FY25, up from its current 7.5 GW.
Current Capacity Overview:
JSW Energy's total locked-in generation capacity is 17.6 GW, comprising:
7.5 GW operational.
2.3 GW under construction across wind, thermal, and hydro.
A renewable energy (RE) pipeline of 7.7 GW (including 2.3 GW with signed Power Purchase Agreements).
The company also has 4.2 GWh of locked-in energy storage capacity through battery energy storage systems and hydro-pumped storage projects.
Future Goals:
JSW Energy aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030.
The company has set a target of achieving Carbon Neutrality by 2050.
Company Profile:
JSW Energy Ltd is part of the USD 23 billion JSW Group, which operates in sectors such as steel, energy, infrastructure, cement, and sports.
It has a strong presence in power generation and transmission, supported by robust operations, good corporate governance, and prudent capital allocation strategies.
Market Performance:
The company has a market cap of over Rs 1,24,000 crore.
It maintains a healthy dividend payout of 27.5 per cent.
Foreign Institutional Investors (FIIs) increased their stake to 15.37 per cent in June 2024, up from 8.37 per cent in March 2024.
Life Insurance Corporation of India (LIC) owns a 7.05 per cent stake as of March 2024.
The stock provided a multibagger return of 101 per cent in the past year, outperforming the BSE Sensex Index, which is up by 26.6 per cent.
Investment Note:
Investors are advised to monitor this mid-cap stock due to its strong performance and future growth potential.