JSW Energy's Ambitious Growth Plans and Achievements in Fiscal Year 2024
Key Ideas
  • JSW Energy raised ₹5,000 crore through a QIP issue to support its growth ambitions, with planned capital expenditure of ₹15,000 crore in the current fiscal year.
  • The company aims to reach 20 GW generation and 40 GWh storage under 'Strategy 2.0', with active pursuit of acquisition opportunities in the power sector.
  • JSW Energy achieved milestones in securing 3.4 GW of renewable energy projects and added a pipeline of 600 MW in fiscal 2024, representing a 42% increase in locked-in capacity compared to the previous year.
  • The company is on track to commission projects for power generation, battery storage, and green hydrogen production, supported by the growth capital raised through QIP placements.
JSW Energy, under the leadership of Chairman & Managing Director Sajjan Jindal, has announced ambitious growth plans for the fiscal year 2024, aiming to invest significantly in expanding its generation and storage capacities. The company successfully raised ₹5,000 crore through a QIP issue to accelerate its growth initiatives. With a planned capital expenditure of ₹15,000 crore, JSW Energy is eyeing a substantial increase in its generation to 20 GW and storage to 40 GWh as part of 'Strategy 2.0'. Additionally, the company is actively exploring opportunities for acquisitions within the power sector to further enhance its position in the market. During fiscal year 2024, JSW Energy achieved notable milestones, including securing 3.4 GW of renewable energy projects through competitive bidding and adding a pipeline of 600 MW, resulting in a total locked-in capacity of 13.9 GW. This represents a significant 42% growth in locked-in capacity compared to the previous year. The company's pipeline includes a mix of solar and wind projects, with notable awards from entities like SJVN, NTPC, SECI, and GUVNL. Furthermore, JSW Energy is making strides towards its green initiatives, with plans for power generation, battery storage, and green hydrogen production. The company is on course to commission projects in these areas, with the recent capital raised through QIP placements strategically positioning them for accelerated growth and execution of their plans. The successful synchronisation of the Ind-Barath Unit 1, with Unit 2 expected to follow suit, marks significant progress for JSW Energy in meeting its targets and fulfilling its commitments to shareholders and stakeholders.
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