JSW Energy - Capex Cycle Commences: ICICI Securities
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ICICI Securities Report
We interacted with the management of JSW Energy Ltd.’s to gain more clarity on its medium-term growth path and targets.
In its quest towards becoming a 10 gigawatt capacity company by FY25 driven by renewables (and 20GW by FY30), the company has a clear vision on commissioning of 2.5GW (currently under construction) by FY23 and its participation in auctions to secure the balance 3GW.
Company has clarity in terms of project selection – land availability, P90 capacity utilisation factor levels, mid-teen internal rate of returns and high quality offtakers – and it will continue to prefer wind and hybrid projects over solar in the near term.
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