SECI allows JSW Neo Energy to establish 6.5 KTPA green hydrogen facility
JSW Neo Energy has clinched the Letter of Award (LoA) in an auction by the Solar Energy Corporation of India (SECI) under the Strategic Interventions for Green Hydrogen Transition (SIGHT) Scheme. This LoA will enable the establishment of a 6.5 ktpa green hydrogen production facility, aligning with the sustainability commitment of JSW Neo Energy and India’s net-zero goals.
The production facility is set to go live within 36 months from the LoA date, with an associated incentive of Rs 67.6 crore over a three-year period post-commissioning. This move underscores the dedication of JSW Neo Energy to green initiatives, positioning it as a leader in the burgeoning green hydrogen market.
Leveraging its deep understanding of the Indian energy landscape and proactive stance on technological advancements, JSW Neo Energy strategically positions itself in the green hydrogen sector, gaining an early mover advantage.
JSW Neo Energy aims to achieve a 20 GW generation capacity and a 40 GWh energy storage capacity by 2030, progressing well towards its interim target of 10 GW by 2025, with a current capacity of 9.8 GW, including projects under construction. Moreover, the company has already secured 3.4 GWh of energy storage capacity through a mix of battery energy storage systems and a hydro-pumped storage project.
Furthermore, JSW Energy, the parent company of JSW Neo Energy, has set ambitious environmental goals, targeting a 50% reduction in carbon footprint by 2030 and carbon neutrality by 2050. The company says that this LoA reaffirms the company’s commitment to spearheading India’s sustainable energy transition and underscores its ambition to significantly contribute to the nation’s green energy landscape.
