JSW Energy aims for Rs 15,000 crore capex in FY25

NEW DELHI: The chairman & managing director of JSW Energy Sajjan Jindal in the company's annual general meeting announced that they eye for Rs 15,000 crore capex in the current fiscal year. Jindal further said that under their 'Strategy 2.0', the company aims to achieve a generation capacity of 20 GW and storage capacity of 40 GW, which will require a total investment of approximately Rs 1,15,000 crore.

Meanwhile, the company is actively seeking opportunities in the power sector and is moving forward with the commissioning of ongoing projects related to power generation, battery storage, and green hydrogen production.

Additionally, it raised Rs 5,000 crore following a successful completion of a QIP issue in April this year, which subsequently fueled its growth plans.

The issue received an overwhelming response from reputable global and domestic institutional investors, with a subscription of over 3.2 times.

JSW Energy bagged 3.4 GW of renewable energy projects through competitive bidding during the last fiscal year.

Meanwhile, the company's locked-in capacity has increased by 42 per cent compared to the previous fiscal year, with a total of 13.9 GW. The pipeline includes solar projects totaling 2.4 GW, awarded by SJVN, NTPC, SECI, and GUVNL.

The company also secured a 1 GW wind project from SECI and 300 MW of wind-solar hybrid projects each from SECI and SJVN.

Moreover, JSW Energy successfully synchronized Ind-Barath Unit 1, with a capacity of 350 MW, during fiscal 2024. The company expects to synchronize Unit 2, which has a similar capacity, in the current quarter.