JSW Energy’s Chairman and Managing Director, Sajjan Jindal, announced on Friday that the company has planned a capital expenditure of Rs 15,000 crore for the current fiscal year. At the annual general meeting, he stated that the company aims to invest around Rs 1,15,000 crore to achieve the target of 20 GW generation and 40 GWh storage under ‘Strategy 2.0.’ Additionally, the company is actively seeking acquisition opportunities in the power sector.
JSW Energy is on track to commission ongoing projects for power generation, battery storage, and green hydrogen production. The company recently completed a Qualified Institutional Placement (QIP) to secure growth capital, raising Rs 5,000 crore in April 2024. This was met with an overwhelming response from high-quality global and domestic institutional investors, oversubscribed by over 3.2 times.
In the fiscal year 2024, the company secured 3.4 GW of renewable energy projects through competitive bidding. This year, it has added a pipeline of 600 MW, bringing the total locked-in capacity to 13.9 GW, representing a 42% increase from the previous fiscal year.
The pipeline includes aggregate solar projects of 2.4 GW, a 1 GW wind project, and 300 MW each of wind-solar hybrid projects. Additionally, the company achieved a significant milestone with the rapid synchronization of Ind-Barath Unit 1, having a capacity of 350 MW, with Unit 2 of similar capacity expected to be synchronized in the current quarter.