JSW Energy gains 2% as subsidiary starts commissioning of 810 MW wind power project

The project, according to the filing, has a power purchase agreement with SECI for a period of 25 years. This project was awarded under the SECI tranche IX in Tamil Nadu.

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Shares of JSW Energy gained nearly 2 percent after its wholly-owned subsidiary JSW Renew Energy Limited started phase-wise commissioning of a 810 MW ISTS-connected wind power project. At 10 am, the stock was trading at Rs 416.75.

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In a regulatory filing on December 26, JSW Energy said its subsidiary entity had started phase-wise commissioning of the 810 MW ISTS-connected wind power project awarded under the SECI tranche IX in Tamil Nadu with commissioning of the first phase of 51 MW. The project, according to the filing, has a power purchase agreement with SECI for a period of 25 years. Post this, the total current installed capacity has reached 6,822 MW while the under-construction capacity stands at 2,969 MW, which is likely to be commissioned in phases over the next 12 months, the filing said.

Also read: JSW Group stocks fall after group chairman is accused of rape

In Q2FY24, JSW Energy reported an 88 percent year-on-year increase in consolidated net profit to Rs 856.79 crore. Revenue for the same period rose to Rs 3,387.36 crore in the reporting period from Rs 2,596.27 crore in the previous fiscal. Earnings before interest, tax, depreciation, and amortisation (EBITDA) increased 83 percent to Rs 2,008.32 crore from Rs 1,098.37 crore a year earlier.

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