JSW Energy Limited has signed an agreement with GE Renewable Energy to supply 810 MW of marine wind turbines for construction of about 2.5 GW of renewable projects in India. JSW Energy has filed a regulation with the stock market stating that the distribution of turbines will begin in the second quarter (April-June) of 2022.
GE is a leader in providing renewable energy wind power solutions. Its turbines will generate enough green energy to meet the annual electricity needs of more than 2.1 million households in the country, according to its report.
“Our company has set a target of generating 20 GW of electricity by 2030, when the share of renewables in our total portfolio will be 85 per cent. The projects to be implemented in Tamil Nadu are our first major wind power project.
JSW Energy aims to reduce its carbon footprint by 50 percent by 2030 and achieve carbon neutrality by 2050 by switching to renewable energy. By 2030, the leading power generation company has set a target of 20 GW of capacity, with the share of renewable energy at 85% – from the current 30%.
About 2.2 GW of wind and solar projects will be launched in the next 18-24 months, while the 240 MW Kuder hydropower project will be launched in the next 36-40 months.
With the implementation of these projects, the total production capacity of JSW Energy will increase to almost 7 GW – Renewable Energy contributes more than 50 per cent.
Shares of JSW Energy last fell 0.05 per cent to Rs. 379, so far the intra-day high of Rs 389 and the intra-day low was recorded at Rs 372.20 during the trading session.