JSW Neo Energy receives letter of intent for developing 126 MW Chhatru hydel project in Himachal Pradesh – EQ Mag Pro
New Delhi : JSW Energy on Tuesday said its arm JSW Neo Energy has received a letter of intent from the Himachal Pradesh government for developing the 126 MW Chhatru hydro power plant.
“JSW Neo Energy Limited, a wholly-owned subsidiary of JSW Energy Limited, has received a Letter of Intent (LoI) from the Government of Himachal Pradesh for allotment of 126 MW Chhatru Hydro Electric Power Plant (HEP) on BOOT basis, with an operational life of 40 years,” the company said in a statement.
BOOT refers to Built, Own, Operate and Transfer.
Prashant Jain, Joint Managing Director and CEO of JSW Energy, said the LoI from for allotment of 126 MW Chhatru project is another step in its renewables-led growth strategy.
JSW Energy has set an ambitious target for a 50 per cent reduction in its carbon footprint by 2030 and to achieve carbon neutrality by 2050.
The company has set a target to reach 20 GW capacity by 2030, with the share of renewable energy increasing to 85 per cent.
Source: PTI
