JSW Energy, a part of the diversified Jindal group, has earmarked an investment of Rs. 8,000 crore in businesses across the power spectrum with plans to add over 2,000 MW of generation capacity in FY ’11, a top company official said.
The company, which went public last year, plans to commission its 1,200 MW plant at Maharashtra’s Ratnagiri and 945 MW plant at Barmer in Rajasthan this fiscal, JSW Energy’s Chairman and Managing Director, Sajjan Jindal, told shareholders at the company’s annual general meeting here Thursday.
JSW Energy is also setting up plants in Chhatisgarh and West Bengal, totalling an installed capacity of 2,900 MW and expects to achieve financial closure for them by this calendar year, Mr. Jindal told reporters later.
The company will be raising money through the debt route for it and does not see “much difficulty” in getting it, Mr. Jindal said.
“Overall, our capex (capital expenditure) for the power sector will be around Rs 8,000 crore,” he said, adding the company is concentrating hard on getting raw material linkages for its power plants.
JSW Energy is looking at acquiring assets both domestically and internationally for the same.
“We need to have 20 million tonnes of coal in place in the next five years. Currently, our reserves are two million tonnes...it’s a huge task,” Mr. Jindal said, adding a majority of the coal would come by acquiring assets in Australia, Indonesia and South Africa.
