JSW Energy to invest Rs 15,000 crore in increasing generation capacity

8 May 2024 , 02:55 PM

JSW Energy will do capital expenditure of ₹15,000 Crore  for increasing capacity from 7.2 GW to 20 GW by FY30, including investments in battery storage business.

CEO Sharad Mahendra anticipates rising demand, aiming to achieve 10-GW capacity by FY25. The company had committed ₹18,652 Crore in FY24, spending ₹15,056 Crore by March 31, 2024.

Pursuing inorganic expansions and considering backward integration into wind and solar equipment manufacturing to mitigate supply chain risks. Plans underway for battery storage manufacturing to enter the electric vehicle segment, with a 250 MW / 500 MWh project signed with Solar Energy Corporation of India Limited.

Confident of commissioning the facility by Q1FY26, with site work already initiated. JSW Energy’s board approves raising funds up to ₹10,000 Crore for acquiring clean energy companies. Consolidated net profit rises by 22.4% YoY to ₹345.27 Crore in the March quarter, driven by strong thermal energy portfolio performance and short-term market surge.

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