Integrated Annual
Report 2023-24
Integrated Annual
Report 2023-24
With a diversified and worldclass integrated energy solutions portfolio, a strong track record in developing and operating power assets and scaling up of renewable energy capacity, we continue to strengthen our position as a leading player supported by a robust financial position.
In our quest for growth, our focus remains on supporting India in its ambitious journey towards a Net Zero carbon future, through backward integration, transformative technologies and new offerings in the power sector ecosystem.
India has demonstrated a strong commitment to combating climate change and achieving its goal of net zero carbon emissions by 2070. The nation has underscored its dedication to clean energy with an ambitious target of reaching 500 GW of non-fossil fuel capacity. To meet this target, the government plans to add 50 GW of renewable energy capacity annually over the next five years. Recently, energy security has become the focal point of government initiatives, reflecting a balanced approach towards sustainable development and climate resilience.
At JSW Energy, we are at the forefront of energy transition while also focussing on supporting India in its quest for energy security. We are accelerating our growth target and intend to achieve 20 GW of generation capacity along with 40 GWh / 5 GW of energy storage capacity before 2030.
We have a prominent presence in India’s power sector through diversified assets in power generation and transmission, energy storage and energy products & services. With new energy solutions of energy storage, green hydrogen, green ammonia and its derivatives, we are being the enablers for renewable energy-based products and services.
Supported by our energy storage projects and foray into green hydrogen and derivatives, we are today “an energy products and services company” with new-age businesses. Further, to de-risk our supply chain, we are exploring opportunities in equipment manufacturing. With a world-class and integrated energy solutions, project execution capabilities and judicious deployment of our financial and human capital, we are propelling a comprehensive transformation in energy sector.
Our locked-in portfolio of 13.2 GW comprises installed capacity of 7.2 GW, under-construction capacity of 2.6 GW and pipeline projects of 3.4 GW. Our lockedin capacity in energy storage stands at 3.4 GWh; while in energy products and services, we are working on 3,800 tonnes per annum green hydrogen plant.
The year saw a evolving bidding environment, the recent renewable bids for RTC and FDRE are complex solutions. We are foraying into these energy solutions thereby diversifying our suite of energy solutions while maintaining healthy returns.
We are working on an ambitious target to achieve 50% reduction in carbon footprint by 2030, and carbon neutrality by 2050 by transitioning towards renewable energy. We have been rated best among our peers by leading ESG rating agencies. We are rated A- (Leadership Level) by CDP on climate change rating 2023. Having built capabilities in green energy generation and storage, we continue to leverage the growing opportunities in the energy market. We were also accorded one of the highest credit ratings among the independent private power plant operators.
