New Delhi, JSW Energy Chairman and Managing Director Sajjan Jindal on Friday said the company has planned a capital expenditure of Rs 15,000 crore during the current fiscal year.
Addressing shareholders at the annual general meeting, he said, the company intends to spend around Rs 1,15,000 crore to achieve the target of 20 GW generation and 40 GWh storage under 'Strategy 2.0' .
He further said that the company's plan is to spend approximately Rs 15,000 crore in the current fiscal year and that it is also actively looking for acquisition opportunities in the power sector.
The company is on track to commission ongoing projects for power generation, battery storage and green hydrogen production, he said.
The growth capital raised through the recently completed QIP (qualified institutional placement) strategically positions the company to accelerate the execution of growth plans that generate returns, he noted.
In April 2024, JSW Energy had raised Rs 5,000 crore in equity through a QIP issuance to create a war chest to accelerate its growth ambitions.
The issue was subscribed over 3.2 times and garnered overwhelming response from high-quality domestic and global blue-chip institutional investors, Jindal said.
He told shareholders that during fiscal 2024, the company achieved a major milestone by securing 3.4 GW of renewable energy projects through competitive bidding.
In the current year, the company added a portfolio of 600 MW, resulting in a total secured capacity of 13.9 GW. This growth represents a 42 percent increase in its locked capacity compared to fiscal 2023, he added.
The portfolio includes aggregate solar projects of 2.4 GW – 700 MW each from SJVN, NTPC and SECI, and another 300 MW project from GUVNL.
SECI awarded a 1 GW wind project. The company also secured 300 MW of wind-solar hybrid projects each from SECI and SJVN.
Additionally, during FY2024, the company achieved a major milestone with the rapid synchronization of Ind-Barath Unit 1, which has a capacity of 350 MW and Unit 2 of similar capacity is expected to be synchronized in this quarter.
Addressing shareholders at the annual general meeting, he said, the company intends to spend around Rs 1,15,000 crore to achieve the target of 20 GW generation and 40 GWh storage under 'Strategy 2.0' .
He further said that the company's plan is to spend approximately Rs 15,000 crore in the current fiscal year and that it is also actively looking for acquisition opportunities in the power sector.
The company is on track to commission ongoing projects for power generation, battery storage and green hydrogen production, he said.
The growth capital raised through the recently completed QIP (qualified institutional placement) strategically positions the company to accelerate the execution of growth plans that generate returns, he noted.
In April 2024, JSW Energy had raised Rs 5,000 crore in equity through a QIP issuance to create a war chest to accelerate its growth ambitions.
The issue was subscribed over 3.2 times and garnered overwhelming response from high-quality domestic and global blue-chip institutional investors, Jindal said.
He told shareholders that during fiscal 2024, the company achieved a major milestone by securing 3.4 GW of renewable energy projects through competitive bidding.
In the current year, the company added a portfolio of 600 MW, resulting in a total secured capacity of 13.9 GW. This growth represents a 42 percent increase in its locked capacity compared to fiscal 2023, he added.
The portfolio includes aggregate solar projects of 2.4 GW – 700 MW each from SJVN, NTPC and SECI, and another 300 MW project from GUVNL.
SECI awarded a 1 GW wind project. The company also secured 300 MW of wind-solar hybrid projects each from SECI and SJVN.
Additionally, during FY2024, the company achieved a major milestone with the rapid synchronization of Ind-Barath Unit 1, which has a capacity of 350 MW and Unit 2 of similar capacity is expected to be synchronized in this quarter.
