JSW Neo Energy Ltd, an arm of JSW Energy Ltd, has received the Letter of Award (LoA) for setting up 6.5 ktpa (kilotonnes per annum) green hydrogen production facility in the auction conducted by Solar Energy Corp. of India (SECI) under the Strategic Interventions for Green Hydrogen Transition (SIGHT) Scheme.
The capacity is to be commissioned within 36 months from the date of LoA.
Under the Scheme, JSW will receive incentives for a period of three years starting from the date of commencement of green hydrogen production, to the tune of INR 67.6 crore (around $8.14 million).
JSW aims to reach 20 GW power generation capacity and 40 GWh of energy storage capacity by 2030. With a total capacity of 9.8 GW (including under-construction), the company is well placed to achieve its near-term target of 10 GW by 2025. In addition, the company has currently locked in 3.4 GWh of energy storage capacity by means of battery energy storage system and pumped hydro storage project. JSW Energy targets 50% reduction in carbon footprint by 2030 and achieving carbon neutrality by 2050.
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