JSW Energy April-June net profit falls 14.7% to Rs 277.45 crore
MUMBAI: JSW Energy, which has announced two acquisitions in a year, plans to look at stressed power assets for acquisition to grow its power generation portfolio.
Talking to shareholders at the company’s annual general meeting, chairman Sajjan Jindal said: “With an enabling regulatory architecture, clarity on medium-to-long term outlook, availability of many stressed power assets, and a strong balance sheet, your company is uniquely positioned to explore organic and inorganic growth opportunities to increase our installed capacity from existing levels.”
In 2014, JSW Energy signed a pact to acquire the 300 MW Baspa II and 1,091 MW Karcham Wangtoo hydroelectric projects from Jaiprakash Power Ventures. With this deal, the company’s aggregate operational power generation capacity rose to 4,531 MW.
Earlier this month, JSW signed a non-binding memorandum of understanding for initiating a due diligence process for the potential acquisition of a majority stake in Monnet Power Company which is setting up a 1,050 MW coal-fired thermal power plant located in the coalrich belt of Angul in Odisha.