ICICI Securities: JSW Energy - First Big Renewable Step

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.JSW Energy Ltd.’s subsidiary JSW Solar has received Letter of Awards (LoA) from Solar Energy Corporation of India Ltd. (SECI) to set up blended wind capacity totalling 810 megawatt (max solar energy blending allowed is 20%).This is a positive development for the company, which has a vision to reach 10 gigawatt capacity in the next four-five years, especially after the termination of GMR Kamalanga Energy Ltd. acquisition and prolonged delay of Ind-Barath Energy Utkal Ltd.’s acquisition.We now await the signing of power sale agreement (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 Rs 47-48 billion with debt to equity financing of 75:25.We believe JSW Energy will have sufficient cash flows to fund the equity requirement without affecting current dividends..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

ICICI Securities: JSW Energy - First Big Renewable Step

JSW Energy’s subsidiary JSW Solar has received an LoA from the government’s SECI to set up blended wind capacity totaling 810 MW.

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