JSW Solar, incorporated for Green Energy Business

JSW Solar Ltd, a wholly owned subsidiary of Sajjan Jindal-led JSW Energy has been incorporated to pursue business opportunities in the renewable energy space, energy storage systems, micro grids, etc.

The company’s board in August last year had approved the proposal of entering into electric vehicles, energy storage systems and associated business, directly or through one or more subsidiaries.

The company had said that the expected capex to be incurred on these businesses over the next three years would be in the range of Rs 3,500 to Rs 4,000 crore.

The company has also inked a pact with the Government of Gujarat to set up facility to manufacture electric car and storage battery.