The Sajjan Jindal-led company JSW Energy is reportedly planning to have renewable energy at core of its 20 GW capacity target.
According to ET the company is on track to double its capacity to 10 GW by 2024 and aims to scale it up to 20 gw by 2029-30.
Prashant Jain, joint managing director and chief executive officer speaking to the publication said “There is a global focus on renewable energy and now there is rationality in the sector. Other than Kamalanga and Ind-Bharat, the majority of our new capacity addition will come from renewable energy.”
According to the report the company is aiming to close the deal to acquire GMR Kamalanga Energy from GMR Energy before the end of the current fiscal 2019-20.
The proposed acquisition of Ind-Barath Energy (Utkal) (700 mw) may be done by June as approval by National Company Law Tribunal is under process for the resolution plan submitted by the company.