JSW Neo Energy gets new order of 125MW, know whether the stock will rise after this

JSW Neo Energy Acquires 125 MW Wind Energy Projects

JSW Neo Energy (JSWNEL), a subsidiary of JSW Energy, has announced the acquisition of three wind power projects from Hetero Wind Power, totaling a capacity of 125 MW. This transaction, valued at ₹630 crore, grants JSWNEL full ownership of Hetero Wind Power (Pennar) and Hetero Med Solutions, while retaining a 74% stake in Hetero Wind Power, with the remaining 26% held by a captive consumer.

Details of the Acquisition

Located in Andhra Pradesh and Maharashtra, these projects are backed by long-term power purchase agreements (PPAs). The acquisition is expected to be finalized within 90 days, with a projected revenue of ₹144 crore for the financial year 2023-24. This strategic move aligns with JSW Energy’s ambition to reach 10 GW of renewable energy capacity by FY 2025 and 20 GW by 2030.

Company’s New Contracts

In addition to this acquisition, JSW Neo Energy secured contracts from MSEDCL to supply 1,650 MW of wind-solar hybrid power. The company is also advancing in energy storage, having signed an agreement for 1,500 MW/12,000 MWh from pumped hydro storage projects. This growing portfolio solidifies JSW Energy’s position in the renewable energy sector, attracting significant investor interest.

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