JSW Neo Energy secures green hydrogen production capacity under SIGHT scheme
Hydrogen

JSW Neo Energy secures green hydrogen production capacity under SIGHT scheme

The company has set a target to reach 20 GW generation capacity and 40 GWh of energy storage capacity by 2030

  • By ICN Bureau | February 05, 2024

JSW Neo Energy Limited, a wholly owned subsidiary of JSW Energy Limited, has secured capacity allocation of 6.5 KTPA for setting up of green hydrogen production facility in the first-ever auction conducted by Solar Energy Corporation of India (or SECI) under the Strategic Interventions for Green Hydrogen Transition (SIGHT) scheme.

The company has received Letter of Award (LoA) from SECI and the capacity is to be commissioned within 36 months from the date of LoA. This will entail incentive for a period of three years from commissioning to the tune of Rs. 67.6 crores.

This aligns with the company's sustainability goals and contributes to India's net-zero ambitions.

The win strengthens JSW's position as a pioneer and provides an early mover advantage in green hydrogen space. Our deep understanding of the Indian energy landscape, coupled with our robust financial strength and commitment to technological advancements, positions us to become a key player in India's growing green hydrogen market. 

The company has set a target to reach 20 GW 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, JSW Energy has currently locked in 3.4 GWh of energy storage capacity by means of battery energy storage system and hydro pumped storage project. JSW Energy has set an ambitious target for 50% reduction in carbon footprint by 2030 and achieving Carbon Neutrality by 2050.


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