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JSW Energy, an arm of the $12 billion JSW Group is planning to have more than a half — around 55 % of its total installed capacity contributed by renewable energy projects in two-and-a-half years.
Currently, the company has a total installed capacity of around 4.6 Gigawatt (GW). Renewable energy projects account for around 30 per cent of this capacity.
According to a report by The Economic Times, Prashant Jain, Chairman of JSW Hydro and Co-Managing Director and CEO of JSW Energy Limited, said The test run will start in the next 24 to 30 months. Upon completion of these projects, the share of renewable energy in the portfolio will exceed 55%. “
“We currently have visibility on a pipeline of about 2.6 GW renewable projects comprising wind, solar and hydro which are likely to get commissioned over the next 24–30 months. On completion of these projects, the share of renewables in our portfolio will be over 55 per cent,” Prashant Jain, Chairman of JSW Hydro, and Joint Managing Director and CEO of JSW Energy Limited said.
JSW Hydro, and arm of JSW Energy, raised $707 million (around Rs 5,200 crore), from an international green bond issue that was oversubscribed by over four times.
“This fundraise will enable us to further strengthen and diversify our sources of funding and we look forward to strengthening our partnership with global investors as we continue to build and grow our renewable energy business,” Jain said.
The Company engaged with several investors on a global deal roadshow across Hong Kong, Singapore, London, New York and Los Angeles.