JSW Solar To Set Up Blended Wind Capacity Totaling 810MW

In Clean News, Renewable Energy, Wind

JSW Energy’s (JSWEL) subsidiary JSW Solar has received Letter of Awards (LoA) from SECI to set up blended wind capacity totaling 810MW (max solar energy blending allowed is 20%).

This is a positive development for the company, which has a vision to reach 10GW capacity in the next 4-5 years, especially after the termination of GMR Kamalanga acquisition and prolonged delay of Ind-Barath Utkal’s (IBU) acquisition.

We now await the signing of PSA by SECI with a discom, after which commissioning will take 18-24 months. Hence, FY24 is likely to be the first full year of operations.

Total estimated cost of the project is Rs47-48bn with D/E financing of 75:25.

JSW energy

We believe JSWEL will have sufficient cash flows to fund the equity requirement without affecting current dividends. We introduce FY23 estimates revising JSWEL’s target price upwards to Rs66 (from Rs60) but downgrade to ADD due to the recent stock run up.

This is a Syndicate News Feed; edited by Clean-Future Team

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