JSW Neo Energy Limited (or “JSW Neo”), an entirely owned subsidiary of JSW Energy Limited (or “The Company”), recently received a Letter of Intent (or “LoI”) from Gujarat Urja Vikas Nigam Limited (or “GUVNL”) to establish a 192 MW Grid-connected Hybrid Power Project, with an additional 96 MW under the green shoe option.
In the filing, the company shared, “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 upto 500 MW.”
It further read, “Subsequent to this capacity award, the Company’s total locked-in generation capacity increases 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. With this project, the company further strengthens its energy solution offerings while moving towards an energy products and services company.”
