In April 2024, JSW Vitality had raised ₹5,000 crore of fairness by way of a QIP concern to construct a struggle chest for accelerating its progress ambitions. Picture: www.jsw.in/power
SW Vitality Chairman & Managing Director Sajjan Jindal on July 5 stated the corporate has deliberate a capital expenditure of ₹15,000 crore in the course of the present fiscal yr.
In his handle to shareholders on the annual normal assembly, he stated, the corporate intends to spend round ₹1,15,000 crore to achieve the objective of 20 GW technology and 40 GWh storage underneath ‘Technique 2.0’.
He additional stated the corporate’s plan is to spend roughly ₹15,000 crore in present fiscal yr and it’s also actively scouting for acquisition alternatives within the energy sector.
The corporate is on observe to fee ongoing tasks for energy technology, battery storage and inexperienced hydrogen manufacturing, it stated.
The expansion capital secured by way of the lately accomplished QIP (certified institutional placement) strategically positions the corporate to speed up the execution of returns accretive progress plans, he famous.
In April 2024, JSW Vitality had raised ₹5,000 crore of fairness by way of a QIP concern to construct a struggle chest for accelerating its progress ambitions.
The difficulty was subscribed over 3.2X and met with an awesome response by top quality blue-chip international and home institutional traders, Jindal stated.
He instructed shareholders that in fiscal 2024, the corporate achieved important milestone by securing 3.4 GW of renewable power tasks by way of aggressive bidding.
Within the present yr, the corporate added a pipeline of 600 MW, leading to a complete locked-in capability of 13.9 GW. This progress represents a 42 per cent enhance in its locked-in capability when in comparison with fiscal yr 2023, he added.
The pipeline consists of mixture photo voltaic tasks of two.4 GW — 700 MW every from SJVN, NTPC and SECI, and one other 300 MW mission from GUVNL.
A wind mission of 1 GW was awarded from SECI. The corporate additionally bagged 300 MW of wind-solar hybrid tasks every from SECI and SJVN.
Moreover, throughout fiscal 2024, the corporate achieved a major milestone with the fast synchronisation of Ind-Barath Unit 1, having a capability of 350 MW and Unit 2 of comparable capability is anticipated to be synchronized on this quarter.
