Insta
JSW Energy To Split Its Green And Thermal Businesses; Rs 70,000 Crore Expansion Plan In Renewable Energy Under Way
Source: JSW
JSW Energy is set to split its green and thermal businesses to draw more capital and strategic investors into the renewable energy segment.
The company will accordingly embark on a massive expansion plan worth Rs 70,000 crore for its green energy sector.
Out of that, Rs 25,000 crore will be spent on augmenting capacity by 2025 and the rest of the Rs 45,000 crore will be rolled out in investments in the following five years until 2030.
Further clarity on the separation of the two aforementioned wings of JSW is expected to emerge in the coming three-four months.
JSW Energy Managing Director Prashant Jain mentioned that the roadmap could include their green business going public as well as the invitation of a strategic partner on this front.
The power producer is aiming to ramp up its green portfolio to 85 per cent of its complete capacity by 2030. Jain added that they target deriving the whole of the new capacity through the wind, solar and hydro segments to become a 20 GW company by 2030.
The board of JSW Energy has given its in-principle approval to assess different restructuring alternatives. Additionally, advisors and the valuers for the respective businesses will be appointed soon, Financial Express reports.
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