JSW Energy to convert thermal plants into legal entities for sale
POWER & RENEWABLE ENERGY

JSW Energy to convert thermal plants into legal entities for sale

JSW Energy plans to make its thermal power plants into a separate legal entity for selling them in the long haul.

Currently, the firm has 4,559 MW of production capacity. Out of which 3,158 MW is thermal power, 10 MW is solar power, and 1,391 MW is hydropower. JSW Energy previously decided to develop capacity only by green power.

Prashant Jain, Joint Managing Director, JSW Energy, told the media that the firm decided to choose legal and financial advisors to restructure grey and green energy business into individual entities to improve stakeholder's value proposition.

He said that the future of the energy business is within green power, and JSW is prepared to get into it.

Binding financial sources to fossil fuel-fired plants is growing difficult and has turned into a pricey affair because lenders turn Environment, Social and Governance (ESG) score-conscious.

Jain informed that JSW Energy has succeeded in bringing down the interest rate from 8.67% to 8% through pre-paying rupee debt.

JSW Hydro Energy, the firm's wholly-owned subsidiary, raised Rs 5,187 crore by green bonds priced at 4.12% to eliminate high-cost debt.

Recently, JSW Future Energy, another wholly-owned subsidiary of JSW Energy, collaborated with Australian Fortescue Future Industries Pty to divide hydrogen and oxygen from water and utilise them for industrial purposes.

Soon, the ESG score of every business would become necessary, such as the profit they produce as lenders, including banks, that lend to corporates would be ranked based on the ESG score of its borrowers.

Sajjan Jindal, Chairman, JSW Group, also informed the media that the firm would transform its generation portfolio to 70% renewable by FY2025.

Image Source


Also read: JSW Energy plans to add 2,600 MW RE capacity by 2023

Also read: JSW Hydro Energy raises $707 mn via dollar green bonds

JSW Energy plans to make its thermal power plants into a separate legal entity for selling them in the long haul. Currently, the firm has 4,559 MW of production capacity. Out of which 3,158 MW is thermal power, 10 MW is solar power, and 1,391 MW is hydropower. JSW Energy previously decided to develop capacity only by green power. Prashant Jain, Joint Managing Director, JSW Energy, told the media that the firm decided to choose legal and financial advisors to restructure grey and green energy business into individual entities to improve stakeholder's value proposition. He said that the future of the energy business is within green power, and JSW is prepared to get into it. Binding financial sources to fossil fuel-fired plants is growing difficult and has turned into a pricey affair because lenders turn Environment, Social and Governance (ESG) score-conscious. Jain informed that JSW Energy has succeeded in bringing down the interest rate from 8.67% to 8% through pre-paying rupee debt. JSW Hydro Energy, the firm's wholly-owned subsidiary, raised Rs 5,187 crore by green bonds priced at 4.12% to eliminate high-cost debt. Recently, JSW Future Energy, another wholly-owned subsidiary of JSW Energy, collaborated with Australian Fortescue Future Industries Pty to divide hydrogen and oxygen from water and utilise them for industrial purposes. Soon, the ESG score of every business would become necessary, such as the profit they produce as lenders, including banks, that lend to corporates would be ranked based on the ESG score of its borrowers. Sajjan Jindal, Chairman, JSW Group, also informed the media that the firm would transform its generation portfolio to 70% renewable by FY2025. Image Source Also read: JSW Energy plans to add 2,600 MW RE capacity by 2023 Also read: JSW Hydro Energy raises $707 mn via dollar green bonds

Next Story
Equipment

Handling concrete better

Efficiently handling the transportation and placement of concrete is essential to help maintain the quality of construction, meet project timelines by minimising downtimes, and reduce costs – by 5 to 15 per cent, according to Sandeep Jain, Director, Arkade Developers. CW explores what the efficient handling of concrete entails.Select wellFirst, a word on choosing the right equipment, such as a mixer with a capacity aligned to the volume required onsite, from Vaibhav Kulkarni, Concrete Expert. “An overly large mixer will increase the idle time (and cost), while one that ..

Next Story
Real Estate

Elevated floors!

Raised access flooring, also called false flooring, is a less common interiors feature than false ceilings, but it has as many uses – if not more.A raised floor is a modular panel installed above the structural floor. The space beneath the raised flooring is typically used to accommodate utilities such as electrical cables, plumbing and HVAC systems. And so, raised flooring is usually associated with buildings with heavy cabling and precise air distribution needs, such as data centres.That said, CW interacted with designers and architects and discovered that false flooring can come in handy ..

Next Story
Infrastructure Urban

The Variation Challenge

A variation or change in scope clause is defined in construction contracts to take care of situations arising from change in the defined scope of work. Such changes may arise due to factors such as additions or deletions in the scope of work, modifications in the type, grade or specifications of materials, alterations in specifications or drawings, and acts or omissions of other contractors. Further, ineffective planning, inadequate investigations or surveys and requests from the employer or those within the project’s area of influence can contribute to changes in the scope of work. Ext..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?