JSW Energy on Track to Increase Capacity by 10 GW

JSW Energy is on track to becoming a 10 GW company in the next three to five years and aims to double it to 20 GW by the end of the next decade. JSW, with current capacity of 4,559 MW, is scouting for acquisitions in both thermal and renewable energy to achieve the goal.

JSW Energy is in the process of buying the 700 MW Ind-Barath Energy (Utkal) unit and has entered into exclusive discussions to buy GMR Kamalanga Energy, which owns 1,050 MW operating thermal power plant in Odisha. The company is keen to sign the share purchase agreement and close the deal by March 2020.

The next phase of expansion that will take the company to 20 GW will be driven by renewable energy. Around 30-40 percent of the 10 GW capacity that the company is aiming for will be from renewable energy.

As the company scales up capacity from 10 GW to 20 MW, the incremental 10 GW capacity will be almost 90-100 percent from renewable. The company has been successful in acquiring hydropower projects from Jaiprakash Power Ventures (JPVL) in Himachal Pradesh, but it had to scrap two similar buyout plans -- one from JPVL and another from Jindal Steel and Power.