Sumary of Rising demand, green plans power shares of JSW Energy:
- Rising power demand in India has brightened JSW’s earnings outlook, boosting investor confidence.
- Further, a steady increase in the number of power purchase agreements (PPAs) has improved the longer-term outlook of the company, which has outlined major expansion plans in the renewable energy sector.
- Power demand in the country has continued on the recovery path, even surpassing the pre-covid levels.
- Data for August showed domestic power demand grew 4% month-on-month (m-o-m) and 18% year-on-year.
- View Full ImageA healthy uptick This is positive for JSW’s 4,600-megawatt (MW) installed capacity, dominated by thermal power.
- Meanwhile, the firm is planning to ramp up renewable power capacity.
- Note that 958MW is for captive consumption at JSW Steel and the company has guided that another 240MW hydro capacity will be tied up soon with the power distribution company in Haryana.
- These include the setting up of 1.5GW hydro-based power and 5GW wind power projects in the state.