JSW ReNew Energy completes phase -1 of 450 MW wind project

08 Dec 2022 CW Team

JSW Energy announced that its subsidiary JSW ReNew Energy has completed the first phase of its 450 MW wind project by commissioning 27 MW of wind energy generation capacity in Tuticorin, Tamil Nadu.

"JSW Renew Energy Two Ltd, a step-down subsidiary of JSW Energy, has started phase-wise commissioning of 450 MW ISTS-connected wind power project awarded under SECI (Solar Energy Corporation of India) tranche X at Tuticorin in Tamil Nadu with commissioning of the first phase of 27 MW," a BSE filing stated.

According to the company, this is the first greenfield wind power project to be commissioned and demonstrates the group's project execution capabilities.

For a period of 25 years, the project has a power purchase agreement with the SECI. In addition to this project, the company is building 1.8 GW of greenfield renewable energy capacity in order to reach 10 GW capacity by FY25 and 20 GW capacity by FY30.

JSW Energy's joint managing director and CEO, Prashant Jain, stated in the statement, "We are happy to announce the first part commissioning of the SECI X wind project ahead of the schedule. This is an initial step towards progressive commissioning of the greenfield 450 MW wind project. With this, renewables capacity continues to gain share in our operational capacity mix as we are committed to achieving net zero by 2050."

JSW Energy has set an ambitious goal of reducing its carbon footprint by half by 2030 and becoming carbon neutral by 2050 by shifting to renewable energy.

The company has set a target of 20 GW capacity by 2030, with renewable energy accounting for 81% of total capacity. Around 2.63 GW of renewable energy projects are currently under construction or in the pipeline, with 1.26 GW of wind projects tied to SECI expected to be fully operational in the next 12-18 months.

Furthermore, the company has received a LoA (letter of award) from SECI under its tranche XII auction for a 300 MW wind project. Total locked-in capacity will rise to 9.9 GW with the acquisition of Mytrah Energy's 1.75 GW RE assets and 700 MW Ind-Barath Thermal Power Plant.

As part of the re-organisation of the company, the JSW Neo Energy, a fully owned subsidiary of JSW Energy, was created as a vehicle to own all the renewable/green and new energy businesses.

According to the company, it is looking into opportunities to enter the emerging energy sectors of green hydrogen, hydro pumped storage, battery energy storage, and energy products and services.