Latest news with #PriteshVinay
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.
Time of India
20-05-2025
- Business
- Time of India
JSW Energy to invest Rs 14,000 cr to expand renewable energy capacity of Oxygen Power
JSW Energy would invest around Rs 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 Rs 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 Rs 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 Rs 13,000-14,000 crore, JSW Energy Joint MD Sharad Mahendra said in an analyst call. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Gạch cao su mới cho tường – Hãy thử xem! Gạch | Quảng cáo tìm kiếm Tìm Ngay On the capex plan for FY26, Pritesh Vinay, company's Director (Finance) and CFO said the company is expecting to spend Rs 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 Rs 8,000 crore as against guidance of Rs 15,000 capex. Live Events "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 Rs 16,084 crore.
Yahoo
10-04-2025
- Business
- Yahoo
JSW Neo Energy acquires O2 Power's 4.7GW renewable platform
Mumbai, India-based JSW Neo Energy, a subsidiary of JSW Energy, has finalised the acquisition of a 4.7GW renewable energy platform from O2 Power. The acquisition, valued at Rs124.68bn ($1.44bn), marks a significant expansion in JSW Energy's renewable energy capacity. The platform, established by EQT and Temasek in 2020, strengthens JSW Energy's position in the renewable sector. The acquisition will enable JSW Energy to generate steady state earnings before interest, taxation, depreciation and amortisation (EBITDA) of Rs15bn from 2.25GW capacity, expected to be operational by June 2025. Additional capital expenditure of Rs135bn will be required to achieve a capacity of 4.69GW by June 2027, resulting in an annualised EBITDA of Rs37.5bn. As of the fiscal year 2025, O2 Power's installed capacity is 1.34GW. JSW Energy joint managing director and CEO Sharad Mahendra stated: "We are pleased to announce the completion of JSW Energy's largest acquisition to date of 4.7GW of O2 Power. This acquisition brings high-quality assets across resource-rich states, along with a management team and employees having a proven track record in planning and execution. 'This strategic acquisition brings us closer to achieving our 20GW capacity target significantly before 2030. O2 Power also brings additional connectivity for 900MW, which will facilitate our future growth. We warmly welcome O2 Power's experienced management team and employees to the JSW Energy family." With this acquisition, JSW Energy's pro forma installed capacity for the same period is 12.21GW, with renewable energy accounting for 6.55GW - approximately 54% of the total capacity. The acquired platform includes 4.1GW of utility-scale renewable energy projects and 596MW of commercial and industrial capacity. Of the total platform capacity, 3.72GW is secured under power purchase agreements (PPAs) with high-credit-quality off-takers, including both utility-scale and commercial and industrial customers. An additional 974MW of capacity has received letters of awards or intent, and awaits the signing of PPAs The assets are distributed across seven resource-rich states, primarily in western India. The portfolio includes a diverse energy mix with 1.8GW of solar, 0.5GW of wind, 1.6GW of hybrid and 0.9GW of complex solutions such as firm and despatchable renewable energy round the clock. The platform has a blended average tariff of Rs3.37 per kilowatt hour. JSW energy director of finance and chief financial officer Pritesh Vinay stated: "The completion of O2 Power acquisition underscores our commitment towards value accretive growth and prudent capital allocation. O2 Power has built an attractive portfolio and pipeline of projects, which adds to our asset base and strengthens our operational capabilities and presence. 'Not only is this acquisition attractive – both from [a] "build versus buy" trade off as well as from a quality and value perspective – but also we will draw synergies operationally as well as enhance portfolio returns from a competitive financing package to fund this transaction." PWC served as transaction advisor, while Khaitan & Co and Herbert Smith were legal advisors. KPMG conducted financial and tax due diligence, and Wind Guard carried out technical due diligence. JSW Energy received approval from the Committee of Creditors to acquire KSK Mahanadi Power Company's 3.6GW coal-fired thermal power plant in Chhattisgarh, India, in January 2025. This acquisition is part of the company's resolution plan under the corporate insolvency process of the Insolvency and Bankruptcy Code 2016. The operational segment of the plant includes three units with a combined capacity of 1.8GW, secured 95% under long and medium-term PPAs. "JSW Neo Energy acquires O2 Power's 4.7GW renewable platform" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
