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JSW Energy to add 2,600 MW renewable capacity by 2023

JSW Energy to add 2,600 MW renewable capacity by 2023

The renewable projects -- including wind, solar and hydel -- will help the 4,600 MW power generation company in reducing its carbon footprint

JSW Energy plans to increase its renewable power generation portfolio/PC: JSW Energy plant in Barmer JSW Energy plans to increase its renewable power generation portfolio/PC: JSW Energy plant in Barmer

Industrialist Sajjan Jindal-led JSW Energy plans to add 2,600 MW renewable power generation capacity to its portfolio by 2023. With this, the share of its renewable power will increase to 55 per cent of overall portfolio from the present 30 per cent.

The renewable projects -- including wind, solar and hydel -- will help the 4,600 MW power generation company in reducing its carbon footprint. JSW Solar Ltd, a wholly-owned subsidiary of JSW Energy, received Letter of Awards for setting up a total blended wind capacity of 810 MW from Solar Energy Corporation Limited (SECI). The total project outlay is expected to be Rs 4,700-4,800 crore. The project will  be financed at 70:30 debt-equity ratio.

JSW Energy (Kutehr) Ltd is building 240 MW hydro power capacity at a cost of Rs 2,750 crore to supply tothe state of Haryana. The Haryana Electricity Regulatory Commission has recently approved power procurement. The company has been in negotiations with the state discom for finalising the 35 year power purchase agreement (PPA).

The Central Electricity Authority (CEA) has recently permitted uprating of the Karcham Wangtoo Hydro Electric Power Plant of JSW Hydro Energy from 1,000 MW to 1,091 MW.

JSW Energy on Tuesday said that its arm JSW Hydro Energy has raised $707 million through green bonds abroad. JSW Hydro Energy has priced the fixed rate senior secured green 144A/Reg S Bond for a 10-year tenor at 4.125 per cent. The proceeds from the issuance will be used towards repayment of existing green project-related rupee-denominated indebtedness.

JSW Energy had reduced its net debt to Rs 6,719 crore from 7,671 crore in the October-December 2020 quarter. The share price of the company has moved up 30 per cent to Rs 120 in the last one month.

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