JSW plans Rs 75,000 cr investment to scale up capacity to 20 GW by FY30: CEO

Sajjan Jindal-led JSW Energy plans to scale up its total capacity to 20 gigawatts with a total investment of Rs 75,000 crore by financial year 2029-30 from a little over 4.5 gw now, driven by renewable energy, a top executive told ET.

The company is on track to add an operational capacity of 2.5 gw by June 2023 to its existing capacity and is close to signing power purchase agreements (PPA) for the entire new capacity. The board of the company has approved the plan to scale up its capacity to 20 gw and the company has chalked out a plan for it, Prashant Jain, joint managing director and chief executive officer told ET.

“We initially planned a capacity of 10 gw (by FY25) but once we signed the PPA for the 2.5 gw that is under construction right now, it has given us confidence on our execution capability and our ability to convert plans into PPAs…that’s why the board has asked us to make a medium term plan to have 20 gw by 2030,” Jain said.

The capacity addition would be primarily through organic route but the company is open to acquisitions, if an asset fits its benchmarks. Jain said that the company’s debt reduction exercise and cash flows will help fund future growth.

JSW Energy reduced its net debt by Rs 2,739 crore in FY21 to Rs 6,206 crore. Its cash and cash equivalents stood at Rs 2,137 crore.