JSW Energy Ltd Share Price – NSE  /  BSE

Power Generation & Distribution, Mid Cap

JSW Neo Energy, a wholly owned subsidiary of JSW Energy, has received Letter of Award for setting up 500 MW ISTS-connected Solar Power Project along with 250 MW / 500 MWh of Energy Storage Systems from Solar Energy Corporation of India, against Tariff based Competitive Bid invited for setting up of 1,200 MW ISTS-connected Solar Power Projects along with 600 MW / 1,200 MWh of Energy Storage Systems (Tranche XV).

Subsequent to this capacity award, the Company's total locked-in generation capacity increases to 16.0 GW and the total locked-in energy storage capacity increases to 4.2 GWh. The Company expects to have an installed generation capacity of 10 GW by FY25, up from 7.5 GW currently.

JSW Energy has total locked-in generation capacity of 16.0 GW comprising of 7.5 GW operational, 2.3 GW under-construction across wind, thermal and hydro and RE pipeline of 6.2 GW (PPAs signed for 2.0 GW). The company 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.

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JSW Neo Energy, a wholly owned subsidiary of JSW Energy, has received Letter of Award from Karnataka Renewable Energy Development (KREDL) for setting up 300 MW Solar Power Project at Pavagada Solar Park, Karnataka.

Subsequent to this capacity award, the Company's total locked-in capacity increases to 15.5 GW. The Company expects to have an installed generation capacity of 10 GW by FY25, up from 7.5 GW currently.

JSW Energy has total locked-in generation capacity of 15.5 GW comprising of 7.5 GW operational, 2.3 GW under-construction across wind, thermal and hydro and RE pipeline of 5.7 GW (PPAs signed for 2.0 GW). The company also has 3.7 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.

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Revenue from operations fell by 1.65% year on year (YoY) to Rs 2,879.46 crore in the quarter ended 30 June 2024.

EBITDA was at Rs 1,581 crore in June 2024 quarter, up 20.96% on YoY basis, driven by higher generation. EBITDA margin improved to 52% in Q1 FY25 as against 43% posted in the corresponding quarter previous year.

During the quarter, net generation stood at 7.881 MUs, up 18% YoY driven by higher hydro power generation, renewable capacity additions and Utkal unit 1.

The consolidated net worth and net debt as on 30 June 2024 were Rs 26,929 crore and Rs 23,339 crore respectively, resulting in net debt to equity ratio of 0.9x.

Liquidity continued to be strong with cash balances at Rs 6,118 crore as of 30 June 2024.

JSW Energy is primarily engaged in the business of generation of power with principal places located at Vijayanagar (Karnataka), Ratnagiri (Maharashtra), Nandyal (Andhra Pradesh) and Salboni (West Bengal).

The scrip fell 1.19% to end at Rs 704.20 on Friday, 19 July 2024.

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Net profit of JSW Energy rose 79.99% to Rs 521.76 crore in the quarter ended June 2024 as against Rs 289.88 crore during the previous quarter ended June 2023. Sales declined 1.65% to Rs 2879.46 crore in the quarter ended June 2024 as against Rs 2927.85 crore during the previous quarter ended June 2023.

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