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JSW Energy Shares Climb as Arm Commissions 1st Phase of 810 MW Wind Power Project

JSW Infrastructure Limited is the country's second-biggest commercial port operator.

Shares of JSW Energy jumped over 3% on Tuesday after the power generation, transmission and trading company announced that a subsidiary had commissioned 51 MW wind power capacity in Tamil Nadu.

JSW Energy shares reached an intraday high of Rs 423.20, up 3.3% from the previous closing price on the National Stock Exchange (NSE). At 3 pm, the scrip was trading 1.87% higher at Rs 416.95.

JSW Renew Energy Limited, a wholly-owned subsidiary of JSW Energy, has initiated the phase-wise commissioning as a part of an 810 MW ISTS-connected wind power project awarded under Solar Energy Corporation of India (SECI) Tranche IX. 

The project is the first and the largest greenfield wind capacity bagged by the company. The project holds a power purchase agreement with SECI for a duration of 25 years.

JSW Energy aims to achieve a targeted 10 GW in generation capacity by the end of the 2024 calendar year and a substantial growth to 20 GW in generation capacity and 40 GWh in energy storage capacity by 2030. 

The company currently boasts a total capacity of 9.8 GW. Further, JSW Energy has secured 3.4 GWh of energy storage capacity through battery energy storage systems and hydro-pumped storage projects. 

The company also aims for a 50% reduction in its carbon footprint by 2030 and aspires to achieve carbon neutrality by the year 2050.

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