JSW Energy shares fall over 2% despite subsidiary secures 500 MW wind power capacity from SECI

JSW Energy Limited’s shares experienced a dip of nearly 2% on March 18 after its wholly-owned subsidiary, JSW Neo Energy Limited, secured an additional 500 MW wind power capacity from the Solar Energy Corporation of India (SECI). This award brought JSW Neo’s cumulative capacity allotted by SECI to 1,000 MW.

At present, JSW Energy has an installed capacity 7.2 GW. As much as 1.6 GW of this is derived from wind power. The company is targeting total installed capacity of 9.8GW for this year, in the present calendar year.

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With this additional 500MW wind power capacity under lock, the company’s total locked generation capacity manufactures comes to 12.5 GW, of which a full 4.6 GW is attributable to sources of wind power. At 10:53 am on March 18, JSW Energy Limited’s shares were trading 1.86% higher at ₹488.65.

In a separate development, JSW Neo Energy Ltd received a letter of intent on March 14 for a grid-connected solar capacity of 300 MW from Gujarat Urja Vikas Nigam Limited. This solar unit will be established in the Renewable Energy Park in Khavda, Gujarat, operated by the Gujarat State Electricity Corporation.