JSW Energy on Thursday announced that its subsidiary has commenced operations of a 225 MW solar plant at Vijayanagar in Karnataka.This project is part of the earlier announced 958 MW solar and wind projects, for which power purchase agreements were signed with JSW Steel, under the group captive scheme.
JSW Renewable Energy Vijayanagar Ltd has started operations at the 225 MW solar plant at Vijayanagar, according to a statement. Operations of the solar project have started in less than 12 months despite several headwinds like COVID-related disruptions, elevated commodity price and global supply chain outages, it added.
Besides, the company is constructing 2.25 GW of greenfield renewable energy capacity in pursuit of reaching 10 GW capacity by FY25, and 20 GW capacity by FY30, entirely driven by renewables. Prashant Jain, Joint Managing Director and CEO of JSW Energy, said that in the coming months, it remains upbeat to commence operations of under-construction pipeline of 2 GW wind projects in phases.
JSW Energy has set an ambitious target for a 50 per cent reduction in its carbon footprint by 2030 and achieving carbon neutrality by 2050 by transitioning towards renewable energy. The company has set a target to reach 20 GW capacity by 2030, with the share of renewable energy increasing to 85 per cent of the total capacity. Around 2.25 GW of renewable energy projects are currently under-construction and wind projects of 1.26 GW tied with SECI, are expected to be commissioned in the next 12 months.
With the commissioning of these projects, the company’s total generation capacity will increase to around 7 GW, with renewable energy share accounting for about 55 per cent of the total capacity.