The share price of JSW Energy touched a 52-week high of Rs 651.55 in the opening trade on April 22 after the company's arm won an order from NTPC to set up a 700 MW ISTS-connected solar power project.
At 9:34 am, JSW Energy was quoting at Rs 636.85, up Rs 10.50, or 1.68 percent, on the BSE.
"JSW Neo Energy Limited has received a Letter of Award (LoA) for setting up a 700 MW ISTS-connected solar power project from NTPC Limited against tariff based competitive bid invited for setting up 1,500 MW ISTS-connected solar power projects (NTPC-ISTS-II)," the company said in its exchange filing.
The company's total locked-in generation capacity now increases to 13.3 GW of which 3.1 GW comprises of solar power. The current installed generation capacity is 7.2 GW and is expected to have 9.8 GW of installed capacity by CY24.
JSW Energy has a total locked-in generation capacity of 13.3 GW comprising 7.2 GW operational, 2.6 GW under construction across wind, thermal, and hydro, and LoA/LoIs for 3.4 GW capacity from SECI (Solar Tranche XIII and Wind Tranche XVI), SJVN, GUVNL and NTPC.
In addition, the company has 3.4 GWh of locked-in energy storage capacity through a 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.
In an exchange filing on April 17, JSW Energy reported that the Arbitral Tribunal had issued an award to Ind-Barath Energy (Utkal) Limited (IBEUL), which is a subsidiary of their company, for arbitration against Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) regarding disputes arising out of the Power Purchase Agreement on August 8.
The Arbitral Tribunal issued an award allowing IBEUL’s claim for recovery of Rs 120 crore from TANGEDCO along with 9 percent interest from the date of wrongful encashment of performance bank guarantee by TANGEDCO till payment of the entire amount".
They also rejected Tangedco’s counterclaim for recovery of Rs 118 crore as a penalty and Rs 200 crore towards termination charges.
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