Sajjan Jindal-led JSW Energy will invest Rs 5,000 crore in commissioning power projects worth 1,200 MW capacity during the current financial year (2009-10).
“We will invest Rs 5,000 crore and would commission power capacity worth 1,200 MW in the current fiscal,” JSW Energy Managing Director Sajjan Jindal said.
The company would commission a 600 MW power project in Karnataka,a 300 MW unit of the Barmer project in Rajasthan and 300 MW unit of the Ratnagiri power project in Maharashtra.
JSW Energy plans to enter all areas of power generation,transmission,distribution and trading. Some of these projects are part of the company’s greenfield expansion plans.
It is executing a 1,200 MW power project at Jaigarh in Ratnagiri district of Maharashtra. The company plans making it a port-based power plant by setting up a port facility and making a full-fledged business centre in the coming years.
The company’s Barmer project would generate 1,080 MW of power,which will be supplied to the distribution companies (discoms) in Rajasthan.
JSW Energy is also setting up a hydro power project on the Chamba river in Himachal Pradesh,which will generate 260 MW,valued at about Rs 1,700 crore.
“Normally hydro projects take time,we are awaiting for environment and forest clearance for the HP project and then will work forward,” Jindal said.
It plans to become a 10,000 MW company by the year 2015.
“Earlier we thought we would achieve this target by 2013-14,but considering the present market conditions,we would be able to fulfil it by 2015,” he said.
The company invested around Rs 5,000 crore in the power sector in 2008-09.
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