JSW Group stock engaged in the business of generation, transmission, and trading of power in focus upon receiving a 300 MW Wind Solar Hybrid Power Project and signing Power Purchase Agreement with BESCOM.
Price Action
With a market capitalization of Rs. 1,23,698 Crores, the shares of JSW Energy Limited were trading at Rs. 708.15 per equity share, down 0.78 percent from its previous day’s close price of Rs. 713.70. It has delivered a return of 98 percent in a year.
What Happened
JSW Energy Limited’s wholly owned subsidiary JSW Neo Energy Limited has received Letter of Award for setting up a 300 MW ISTS-connected Wind-Solar Hybrid Power Project from NTPC Limited against Tariff based Competitive Bid invited for setting 1,000 MW ISTS-connected Wind-Solar Hybrid Power Projects.
Following this capacity award, the JSW Energy’s total locked-in generation capacity has risen to 16.7 GW, which includes a total locked-in Hybrid capacity of 2.6 GW. By FY25 It expects to have an installed generation capacity of 10 GW, up from 7.5 GW currently.
In Addition JSW Renew Energy Twenty Limited, a whollyowned stepdown subsidiary of JSW Energy Limited has signed Power Purchase Agreement with Bangalore Electricity Supply Company Limited (BESCOM) for solar capacity of 300 MW awarded by Karnataka Renewable Energy Development Limited.
The aforesaid project is located in Pavagada Solar Park, Karnataka and is expected to be commissioned in next 18 months and PPA is signed for supply of power until FY 2044 with a tariff of ₹2.89/KWh.The current solar pipeline capacity stands at 3.2 GW with PPAs signed for 1.3 GW.
About the Company
JSW Energy Limited is part of the famous Indian conglomerate group the JSW Group, it is engaged in the business of generation, transmission, and trading of power. The company operates in various Indian states including Karnataka, Tamil Nadu, Maharashtra, Gujarat, and many more.
JSW Energy has total locked-in generation capacity of 16.7 GW comprising of 7.5 GW operational, 2.3 GW under-construction across wind, thermal and hydro and RE pipeline of 6.9 GW . It also has 4.2 GWh of locked-in energy storage capacity through battery energy storage system and hydro pumped storage project.
The Company aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. JSW Energy has set an ambitious target of achieving Carbon Neutrality by 2050.
Financials and Ratios
Its revenue from operations declined by 1.65 percent from Rs. 2,928 Crores in Q1FY24 to Rs. 2,879 Crores in FY24, accompanied by profits of Rs. 290 Crores to Rs. 534 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 8.4 percent, and a return on capital employed (ROCE) of 8.6 percent. It has reported a debt-to-equity ratio of 1.52.
Written by: Bharath K.S
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