On Monday, JSW Energy declared that JSW Neo Energy, a subsidiary, has secured a contract to create a 500 MW solar project connected to the interstate transmission system (ISTS). A 250 MW/500 MWh energy storage system from the Solar Energy Corporation of India (SECI) is also a part of this project.

A statement from the business states that JSW Neo Energy was awarded the Letter of Award (LoA) for the 250 MW/500 MWh Energy Storage Systems and the 500 MW ISTS-connected Solar Power Project. This contract was a component of SECI's tariff-based competitive bidding process for the construction of 600 MW / 1,200 MWh energy storage systems and 1,200 MW solar power projects connected to the ISTS under Tranche XV.

Karnataka Renewable Energy Development Ltd (KREDL) has granted JSW Neo Energy a second LoA to develop a 300 MW solar project in Karnataka's Pavagada Solar Park.

JSW Energy now has a total locked-in generation capacity of 16 GW and a total locked-in energy storage capacity of 4.2 GWh thanks to these new projects. By the fiscal year 2025, the corporation hopes to have increased its installed generation capacity from the present 7.5 GW to 10 GW. JSW Energy hopes to attain 40 GWh of energy storage capacity and 20 GW of generating capacity by 2030.

The long-term objective of JSW Energy is to become carbon neutral by 2050.