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JSW Energy signs wind turbine supply contract with GE Renewable Energy

JSW Energy aims to reduce carbon footprint by 50% by 2030

JSW Energy Limited signed a contract with GE Renewable Energy to supply 810 MW onshore wind turbines for the company’s under-construction pipeline of approximately 2.5 GW of renewable projects in India. According to a regulatory filing by JSW Energy to the stock exchanges, the supply of turbines will start by the second quarter of 2022 – (April-June).

GE Renewable Energy is said to be a leading provider of wind solutions. According to its statement, the turbines will produce enough green energy to meet the annual electricity requirements of more than 2.1 million households in the country.

“Our company has set a target of reaching 20 GW of electricity generation capacity by 2030, by which time the share of renewable energy in our entire portfolio will be 85 percent. Prashant Jain, Joint Managing Director and CEO, JSW Energy said, “The projects being implemented in Tamil Nadu is our first large-scale wind power project.

JSW Energy aims to achieve carbon neutrality by reducing its carbon footprint by 50 percent by 2030 and shifting to renewable energy by 2050. By 2030, the major power producer aims to reach 20 GW of capacity, with renewables accounting for 85 percent – up from the current 30 percent.

About 2.2 GW of wind and solar projects are likely to be commissioned in the next 18-24 months, while the 240 MW Kutehar hydroelectric project is likely to be commissioned in the next 36-40 months.

With the commissioning of these projects, JSW Energy’s total generation capacity will increase to approximately 7 GW – with renewables contributing more than 50 per cent.

On Friday, October 8, the shares of JSW Energy were trading at Rs 379, down 0.05 per cent in the trading session so far, recording an intraday high of Rs 389 and an intraday low of Rs 372.20.

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