Recently, the $12 billion arm’s subsidiary, JSW Hydro, had raised USD 707 million (amounting to around Rs 5,200 crore) from a green bond sale to international investors
JSW Group’s renewable energy arm JSW Energy is planning to have almost 55 per cent of its total installed capacity contributed by renewable energy projects in two-and-a-half years.
As of now, the company’s total installed capacity amounts to around 4.6 Gigawatt (GW), of which renewable energy projects account for around 30 per cent.
A report by The Economic Times quoted Prashant Jain, Chairman of JSW Hydro, and Joint Managing Director and CEO of JSW Energy Limited saying, “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,”.
Recently, the $12 billion arm’s subsidiary, JSW Hydro, had raised USD 707 million (amounting to around Rs 5,200 crore) from a green bond sale to international investors.
JSW Hydro Energy has an installed generation capacity of 1,391 MW. The group as a whole has 4,559 MW capacity, of which 3,158 MW are thermal power and 10 MW are solar power.
Talking about the fundraiser, Jain added, “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.”
The Company engaged with several investors on a global deal roadshow across Hong Kong, Singapore, London, New York and Los Angeles. The proceeds from the issuance will be used towards repayment of existing green project-related Rupee-denominated indebtedness.