JSW Energy, a private-sector power producer in India, has announced its arm JSW Renewable Energy (Vijayanagar) has switched on a 225MW solar plant in the Vijayanagar district of Karnataka. This project is part of the earlier announced 958MW solar and wind projects signed with JSW Steel under the Group Captive scheme. The power produced will be consumed by JSW Steel under a 25-year power purchase agreement.
“This solar project has commenced operations in a record time of less than 12 months despite several headwinds like Covid-19 related disruptions, elevated commodity prices, and global supply chain outages,” JSW Energy stated.
Apart from this, the company is also constructing 2.25 GW of greenfield renewable energy capacity..
JSW Energy targets a 50% reduction in its carbon footprint by 2030 and carbon neutrality by 2050 by transitioning towards renewable energy. The company aims to reach 20 GW capacity by 2030, with the entire capacity addition being driven by renewable energy. With this, the share of renewable energy in the company’s operational portfolio will increase to 85%.
In new growth areas, JSW Energy is conducting scoping work for a pilot project on the production of green hydrogen and utilizing it for green steel making, hydrogen-based mobility, green ammonia, and other applications. The company has also signed MoUs with the Maharashtra government for 5 GW wind, and 1.5 GW pumped hydro storage projects.
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