Large cap stock in focus after it signs agreement with SANY Renewable Energy for wind turbine generators – EQ
In Short : The large-cap stock is in focus after signing an agreement with SANY Renewable Energy for wind turbine generators. This move suggests the company’s commitment to expanding its renewable energy portfolio, contributing to the growth of clean energy capacity. The collaboration with SANY Renewable Energy aligns with the global push towards sustainable practices and the transition to renewable sources in the power sector.
In Detail : JSW Group stock engaged in the business of generation, transmission, and trading of power in focus upon signing a technology licensing agreement with SANY Renewable Energy for the manufacturing of 3.X MW Wind Turbine Generators.
With a market capitalization of Rs. 82,810 Crores, the shares of JSW Energy Limited were trading at Rs. 503.50, down 2.25 percent from its previous day’s close price of Rs. 515.10.
JSW Renewable Technologies Limited, a wholly-owned subsidiary of JSW Neo Energy Limited and a step-down subsidiary of JSW Energy Limited has entered into a technology licensing agreement with SANY Renewable Energy for the manufacturing of 3.X MW WTGs (Wind Turbine Generators) in India for captive usage by the Company.
JSW Energy Limited currently has a total wind capacity of 3.6 GW, including 2.0 GW of projects under construction. The strategic intent to venture into manufacturing WTGs is to ensure a reliable and assured supply of WTGs for its captive usage, along with a significant saving on the overall project.
Li Qiang, General Manager at SANY Renewable Energy, said, Sany is very excited about providing state-of-the-art WTG technology to JSW Energy. This partnership between JSW and Sany would help India’s wind industry with highly efficient and reliable WTG is based on Sany’s proven technology.
JSW Energy Limited is part of the famous Indian conglomerate group the JSW Group, it is engaged in the business of generation, transmission, and trading of power. The company operates in various Indian states including Karnataka, Tamil Nadu, Maharashtra, Gujarat, and many more.
Its revenue from operations grew by 26.50 percent from Rs. 8,167 Crores in FY22 to Rs. 10,332 Crores in FY23, accompanied by profits of Rs. 1,743 Crores to Rs. 1,480 Crores.
