JSW Energy plans ₹1.15 L cr capex to diversify operations
JSW Energy aims to transform from a power generator to an energy products and services provider while continuing to look for acquisitions in the power sector, said group chairman and managing director Sajjan Jindal.
Towards this initiative, JSW Energy plans to spend ₹1.15 lakh crore in capital expenditure and achieve a generation capacity of 20 gigawatts (GW) and a storage capacity of 40 gigawatt-hours (GWh) by 2030, Jindal told shareholders at the company's annual general meeting on Friday.
The announcement marks a sharp increase from the previously committed capex of ₹85,000 crore. This fiscal year, the company is planning a capex of ₹15,000 crore.
«We are diversifying, broad-basing and expanding our portfolio across the value chain — from a power generation company to an energy products and services company,» said Jindal, adding that spanning across generation, storage, and green hydrogen, its horizons and total addressable market have expanded.
As part of the strategy, the company said it is embracing new energy solutions, including FDRE (firm and dispatchable renewable energy), battery energy storage systems, pumped storage projects, equipment manufacturing, green hydrogen, and its derivatives.
Companies like Adani Power and Tata Power are also aiming to be complete energy solutions providers by expanding into areas and services beyond power generation.
JSW Energy currently has an installed capacity of around 7.3 GW across thermal, hydro, solar, and wind. It has also won bids to build 4 GW renewable
