India’s JSW Energy to expand green power capacity
The country is developing about 2.5 GW of renewable projects.
The Indian energy group, JSW Energy, is set to spin-off its coal-fired power plants into a separate legal entity to unlock value in the long run, since raising financing for thermal power plants becomes increasingly difficult.
Along with this, the company decided to expand its capacity through renewables. JSW Energy currently owns and operates 4.6 gigawatts (GW) of generation capacity, including 3.2 GW of coal and 1.4 GW of hydro. It is developing nearly 2.5 GW of renewable projects expected by 2030, including 2 GW of wind, 240 MW of hydropower, and 225 MW of solar.
JSW Energy Joint Managing Director Prashant Jain said, “the future of energy business lies in green power and the company is all geared to tap into it.”
The company is in the process of setting up 2,458 MW of green energy with 1,993 MW from wind, 240 MW of hydro, and 225 MW of solar by March 2030, reported Rajesh Kumar Singh of Bloomberg Green.
Further, Sajjad Jindal of JSW Group shared, “we have focused our growth strategies towards transforming our generation portfolio to 70% renewable-driven by the year 2025. By embracing new-age green energy as our foundation for dynamic growth, we are transforming ourselves to ensure that we become a ‘net zero’ contributor of greenhouse gas emissions by 2050 or even earlier.”
Enerdata also reports that India’s electricity capacity amounts to 412 GW (end of 2020), with the following capacity mix: 68% thermal (57% coal, 7% gas, 3% biomass, 1% oil), 12% hydro, 9% wind and solar each, and 1.6% nuclear.