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JSW Energy, an Indian energy company, has expanded its renewable energy portfolio with a strategic acquisition. The company has acquired a 120 MW solar power project in the state of Rajasthan, India, from a local developer. This move is part of JSW Energy’s efforts to diversify its energy mix and reduce its dependence on thermal power generation.
The acquired project, known as the “Rajasthan Solar Power Project”, is expected to generate 120 MW of renewable energy, which will be fed into the national grid. The project is expected to reduce carbon emissions by over 176,000 tons per year, equivalent to taking approximately 34,000 cars off the road.
JSW Energy has a long-term commitment to reducing carbon emissions and increasing its renewable energy generation capacity. The company aims to reduce its carbon footprint by 20% by 2025, and this acquisition is a significant step towards achieving this goal. The company has also set a target to reduce its overall carbon emissions by 50% by 2030.
The Rajasthan Solar Power Project is expected to generate significant electricity output, with an expected annual capacity factor of 8,500 hours. This is a significant increase in the company’s renewable energy capacity, which currently stands at around 540 MW. The addition of this solar power project will further strengthen JSW Energy’s position as a leading player in the Indian renewable energy sector.
This acquisition is also expected to create jobs and contribute to the local economy, particularly in the rural areas of Rajasthan. The project is expected to generate employment opportunities for around 200 people, both during the construction phase and during the operation and maintenance phase.
In conclusion, JSW Energy’s acquisition of the Rajasthan Solar Power Project is a significant step towards reducing its carbon footprint and increasing its renewable energy capacity. The project is expected to generate significant electricity output, create jobs, and contribute to the local economy. This acquisition is a testament to the company’s commitment to sustainability and its efforts to play a leading role in India’s renewable energy sector.