JSW Energy, a part of Sajjan Jindal-led JSW group, is planning to set up power plants in different locations by 2015.
Addressing media persons here on Monday, Pramod Menon, Chief Financial Officer, said the company, which has a 260 MW power plant in Vijayanagar since 2000, had recently commissioned the second 300 MW unit of the coal-based power plant in Vijayanagar, Karnataka, and 135 MW power plant in Barmer, Rajasthan.
Earlier, in July this year, the first 300 MW unit in Vijayanagar commenced commercial operations. With the recent addition of 735 MW, the company has a capacity of 995 MW. The company was expected to increase the capacity to 3,140 MW by April 2011 and to 11,390 MW by September 2015. The new power plants would be located in Karnataka, Maharashtra, Rajasthan, Himachal Pradesh, West Bengal, Jharkhand and Chhattisgarh.
Mr. Menon said the company was intending to build an integrated energy business with a reliable fuel supply and a presence across generation, transmission, distribution and power trading through conventional and non-conventional energy sources.T
otal investments in the projects under construction and implementation was about Rs. 14,048 crore. Of which, Rs. 9,979 crore was expected to be funded through debt. Out of the equity portion of Rs. 4,069 core, the company would inject Rs. 2,134 crore from the proceeds of the proposed Rs. 3,000-crore initial public offer. The company had filed a draft red herring prospectus with the Securities and Exchange Board of India.
