900% Returns and Increased Stake by FIIs & DIIs: This Power Sector Stock Lands Major 300 MW Wind-Solar Hybrid Project!

Shares of this company have surged over 70% in the past six months.

JSW Neo Energy, a branch of JSW Energy, has secured a significant 300 MW wind-solar hybrid power project from SJVN Limited. This win follows a competitive bidding process for a total of 1,500 MW of such projects.

With this new project, JSW Energy’s total locked-in generation capacity now stands at 13.9 GW. The company aims to boost its installed capacity to 9.8 GW by the end of 2024, up from the current 7.3 GW. This project underscores JSW Neo’s dedication to expanding its renewable energy portfolio and evolving into a comprehensive energy products and services provider.

JSW Energy is part of the JSW Group, which has diverse interests in areas such as carbon steel, power, mining, industrial gases, port facilities, aluminium, cement, and information technology.

JSW Energy’s total generation capacity includes operational plants (7.3 GW), projects under construction (2.6 GW across wind, thermal, and hydro), and a pipeline of renewable energy projects (4.0 GW with signed power purchase agreements for 1.3 GW). The company also boasts 3.4 GWh of energy storage capacity through battery and hydro storage projects. Their ambitious goals include reaching 20 GW of generation capacity and 40 GWh of energy storage by 2030, with a target of achieving carbon neutrality by 2050.

The stock has delivered impressive returns of over 900% in the last five years, and foreign institutional investors (FIIs) and domestic institutional investors (DIIs) increased their stake in the company in April 2024.

The stock has shown remarkable growth, and investors should keep a close watch on it.

Disclaimer: This article is for informational purposes only and does not constitute investment advice.

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