JSW Energy gets ‘A’ rating in MSCI ESG update; stock down over 6%

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“This significant achievement acknowledges the company’s ESG practices and positions it as one of the highest-rated among its domestic peers in the power generation sector,” JSW Energy said in a press release issued on Monday, August 5.

JSW Energy added that the rating underscores the company for leading its peers in carbon emission mitigation practices and capitalising on opportunities in the renewable energy space.

“Under Strategy 2.0, the company has been consistently investing in renewable projects and expanding into sustainable products and solutions like green hydrogen, FDRE (firm and dispatchable renewable energy) and hybrid power,” it said in the press release.

JSW Energy has a total locked-in generation capacity of 16.2 GW – comprising 7.5 GW operational and 2.3 GW under construction across wind, thermal, hydro and renewable energy pipelines of 6.3 GW (PPAs signed for 2.0 GW).

The company aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. JSW Energy has set an ambitious target of achieving carbon neutrality by 2050.

On Monday, JSW Energy shares dropped as much as 6.4% to hit an intra-day low of ₹676 amid a broader market selloff. The Nifty fell over 3% at noon to trade below the 24,000 mark on account of weak global cues.

Over the past year, the JSW Energy stock has rallied over 134%, while the Nifty has gained over 22%.