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	<title>Gujarat Urja Vikas Nigam Ltd Archives &#8226; The Electricity Hub</title>
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	<title>Gujarat Urja Vikas Nigam Ltd Archives &#8226; The Electricity Hub</title>
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		<title>JSW Energy Arm Obtains LOI for 192 MW Grid Connected Project in Gujarat</title>
		<link>https://theelectricityhub.com/jsw-energy-arm-obtains-loi-for-192-mw-grid-connected-project-in-gujarat/</link>
					<comments>https://theelectricityhub.com/jsw-energy-arm-obtains-loi-for-192-mw-grid-connected-project-in-gujarat/#respond</comments>
		
		<dc:creator><![CDATA[Martins Eze]]></dc:creator>
		<pubDate>Mon, 29 Jul 2024 09:53:05 +0000</pubDate>
				<category><![CDATA[Energy Storage]]></category>
		<category><![CDATA[Energy Transition]]></category>
		<category><![CDATA[International News]]></category>
		<category><![CDATA[Renewables]]></category>
		<category><![CDATA[Gujarat Urja Vikas Nigam Ltd]]></category>
		<category><![CDATA[JSW Energy]]></category>
		<category><![CDATA[Renewable Energy]]></category>
		<guid isPermaLink="false">https://theelectricityhub.com/?p=90570</guid>

					<description><![CDATA[<p>JSW Energy has stated that its wholly-owned subsidiary, JSW Neo Energy, has received a letter of intent from Gujarat Urja Vikas Nigam Ltd to establish a 192 MW grid-connected hybrid&#8230; </p>
<p>The post <a href="https://theelectricityhub.com/jsw-energy-arm-obtains-loi-for-192-mw-grid-connected-project-in-gujarat/">JSW Energy Arm Obtains LOI for 192 MW Grid Connected Project in Gujarat</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p>
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<li>JSW Neo Energy has received a letter of intent from Gujarat Urja Vikas Nigam Ltd to establish a 192 MW grid-connected hybrid power plant.</li>



<li>JSW Energy noted that it had a total locked-in generation capacity of 16.2 GW, with 7.5 GW operational and 2.3 GW under development.</li>
</ul>



<p>JSW Energy has stated that its wholly-owned subsidiary, JSW Neo Energy, has received a letter of intent from Gujarat Urja Vikas Nigam Ltd to establish a 192 MW grid-connected <a href="https://theelectricityhub.com/?s=hybrid+power+plant">hybrid power plant</a>. The project also featured 96 MW under the green shoe option.</p>



<p>The capacity was awarded in response to a tariff-based competitive offer for the development of 500 MW grid-connected hybrid power projects (Phase II), with a green shoe option for further capacity of up to 500 MW.</p>



<p>Following the capacity award, the firm’s total locked-in generation capacity increased to 16.2 GW, which includes 2.1 GW of hybrid capacity. The corporation plans to construct 10 GW of generation capacity by FY25, up from 7.5 GW.</p>



<p><a href="https://theelectricityhub.com/?s=JSW+Energy">JSW Energy</a> noted that it had a total locked-in generation capacity of 16.2 GW, with 7.5 GW operational, 2.3 GW under development in wind, thermal, and hydro, and a <a href="https://theelectricityhub.com/?s=renewable+energy">renewable energy</a> pipeline of 6.3 GW. It also has 4.2 GWh of locked-in energy storage capability via a battery energy storage system and a hydro-pumped storage facility.</p>



<p>The company intends to reach 20 GW of generation capacity and 40 GWh of energy storage capacity by 2030.</p>



<p>Last week, JSW Neo Energy got two big orders for its renewable energy portfolio: a 300 MW solar power project at Pavagada Solar Park in Karnataka and a 500 MW ISTS-connected solar power project with 250 MW/500 MWh of Energy Storage Systems.</p>



<p>The company recorded an 80 per cent year-on-year increase in net profit to ₹521.80 Crore for the first quarter ending June 30, 2024. JSW Energy’s net profit for the quarter was ₹289.90 Crore.</p>



<p>Revenue from operations decreased by 1.7 per cent to ₹2,879.50 Crore, compared to ₹2,927.90 Crore in the previous fiscal year. EBITDA increased by 16 per cent to ₹1,417.90 Crore in the first quarter of this fiscal year, from ₹1,222.10 Crore in the previous year.</p>



<p>The EBITDA margin was 49.2 per cent in the reporting quarter, compared to 41.7 per cent in the first quarter of FY24.</p>



<p>JSW Energy was trading 1.33 per cent lower at ₹684.35, against the previous close of ₹693.55 on NSE. The counter touched an intraday high and low of ₹702.70, and ₹680.70, respectively.</p>
<p>The post <a href="https://theelectricityhub.com/jsw-energy-arm-obtains-loi-for-192-mw-grid-connected-project-in-gujarat/">JSW Energy Arm Obtains LOI for 192 MW Grid Connected Project in Gujarat</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p>
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