JSW Energy Can Achieve 20-GW Capacity Ahead Of Target, Says CEO
'We need at least 40 GW of renewable energy to meet country's growing demand,' Sharad Mahendra says.
JSW Energy Ltd.'s target to reach a generation capacity of 20 gigawatts by the financial year 2030 could be attained sooner than expected, according to Chief Executive Officer Sharad Mahendra. He expressed confidence in accelerating the company's growth trajectory by several years, citing the current order book of 13.2 GW and the existing opportunities available.
The Sajjan Jindal-led company is evaluating and will deliver its first milestone of 10 GW by the current fiscal, Mahendra told NDTV Profit's Niraj Shah in an interview. "That's the time we will be sure of what is the number for FY30," he said.
The company aims to reach 20 GW of generation capacity and 40 GWh of energy-storage capacity by fiscal 2030. The power producer is definitely thinking of advancing the 20 GW target from the set target, according to the CEO.
JSW Energy's consolidated net profit rose 22% in the fourth quarter of fiscal 2024 on the back of strong operating numbers.
Sharad Mahendra, , joint managing director and CEO, JSW Energy (Source: Vijay Sartape/NDTV Profit)
"We need at least 40 GW of renewable energy to meet the country's growing demand, assuming an 8% growth every year," Mahendra said, underscoring that the opportunity is huge and renewable energy would play a significant role.
The company has increased availability of wind and solar power despite the fourth quarter being a low-availability season. It will be exploring more optimum utilisation of existing assets of Mytrah Energy, the CEO said.
