Latest news with #JSWNeoEnergyLtd
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Business Standard
20-05-2025
- Business
- Business Standard
JSW Energy to invest ₹14k cr to expand RE capacity of O2 Power
JSW Energy is planning to invest approximately ₹14,000 crore to scale up the renewable energy capacity of its newly acquired entity, O2 Power, to 4.7 gigawatts (GW) by 2027, senior company executives said. In addition, the firm aims to allocate up to ₹18,000 crore in FY26 to complete existing projects and support new growth initiatives. The company's subsidiary, JSW Neo Energy Ltd, has acquired O2 Power's 4,696 MW renewable energy portfolio from O2 Power Pooling Pte Ltd for an enterprise value of ₹12,468 crore. Of the total, 2,259 MW will be operational by June 2025, 1,463 MW is under construction, and 974 MW is in the pipeline, the company said. At present, O2 Power's installed capacity stands at 1.3 GW. JSW Energy plans to increase this to 4.7 GW by June 2027, backed by a capital outlay of ₹13,000–14,000 crore, Joint Managing Director Sharad Mahendra said during an analyst call. For FY25, the capital expenditure stood at about ₹8,000 crore—lower than the guidance of ₹15,000 crore. 'Because of certain delays in some of the ongoing projects and because we were accelerating the inorganic growth pipeline, we calibrated it down,' the CFO said. JSW Energy is currently building 11.3 GW of generation capacity, all secured under long-term Power Purchase Agreements (PPAs), Mahendra added. This includes 9.7 GW of renewable energy and a 1.6 GW ultra-supercritical thermal power project at Salboni, marking the company's return to greenfield thermal investments after more than a decade. 'Beyond this, we have a robust project pipeline of approximately 4.9 GW, where Letters of Intent or Letters of Award have been secured and PPAs are yet to be signed,' Mahendra said.
Time of India
20-05-2025
- Business
- Time of India
JSW Energy to invest ₹14,000 cr to expand renewable energy capacity of Oxygen Power
JSW Energy would invest around ₹14,000 crore to expand renewable energy capacity of recently acquired O2 Power to 4.7 gigawatt (GW) by 2027, and in FY26 it looks to spend up to ₹18,000 crore to complete ongoing projects, senior company officials said. Its arm JSW Neo Energy Ltd (JSW Neo) has acquired 4,696 MW renewable energy platform of O2 Power Pooling Pte Ltd (O2 Power) for an enterprise value of ₹12,468 crore. Of the total, 2,259 MW will be operational by June 2025, while 1,463 MW is under construction, and an additional 974 MW are in the pipeline, the company had said. The current installed capacity of O2 Power is 1.3 GW and JSW Energy expects to increase it to 4.7 GW by June 2027 by undertaking capital expenditure of ₹13,000-14,000 crore, JSW Energy Joint MD Sharad Mahendra said in an analyst call. On the capex plan for FY26, Pritesh Vinay, company's Director (Finance) and CFO said the company is expecting to spend ₹15,000-18,000 crore to complete the ongoing projects plus the pipeline of new growth projects that have started. For FY25, it was about ₹8,000 crore as against guidance of ₹15,000 capex. "Because of certain delays in some of the ongoing projects and because we were accelerating the inorganic growth pipeline, we calibrated it down," the CFO said. Joint MD Mahendra said JSW Energy is constructing 11.3 GW of generation projects, all of which are fully tied up under long-term Power Purchase Agreements . The under-construction portfolio includes 9.7 GW of renewable energy projects and 1.6 GW Salboni ultra-supercritical thermal power project which marks the company's investment in greenfield thermal after more than a decade, he said. "Beyond this we have a robust project pipeline of approximately 4.9 GW of projects where Letters of Intent or Letters of Award have been secured and PPAs are yet to be signed." On KSK Mahanadi , he said currently 1,800 MW is operational which is 95 per cent tied up under PPAs and has fuel supply agreements. "We are currently integrating operations with JSW Energy and implementing comprehensive plan to bring cost efficiencies," he added. JSW Energy had acquired the 3,600 MW thermal asset through NCLT proceedings for a total resolution amount of ₹16,084 crore.
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Business Standard
01-05-2025
- Business
- Business Standard
JSW Neo Energy signs deal with UPPCL for 1,500 MW pumped hydro storage
JSW Energy on Thursday said its subsidiary JSW Neo Energy Ltd has signed an agreement with Uttar Pradesh Power Corporation Ltd for the procurement of pumped hydro energy storage. "JSW Neo Energy has signed a pumped hydro storage power procurement agreement (PHSPPA) with Uttar Pradesh Power Corporation Ltd. (UPPCL) for procurement of 1,500 MW / 12,000 MWh of pumped hydro energy storage," the company said. The PHSPPA is for the supply of energy storage capacity for a period of 40 years where the company will be entitled to receive a fixed capacity charge of Rs 77.2 lakh per MW per annum. The project, located in Sonbhadra district, Uttar Pradesh, will be capable of a scheduled discharge of 8 hours (with maximum continuous 6 hours) per day. The project is expected to be commissioned in the next 6 years. Subsequent to this, the company's total locked-in energy storage capacity now stands at 28.3 GWh, which includes 26.4 GWh of PSP. The company is well-positioned to achieve its target of 40 GWh of energy storage by 2030.
