JSW Energy completes reorganisation of renewable and thermal business

JSW Energy Limited informed in a March 16 regulatory filing that the reorganisation of the company’s green (renewable) business and grey (thermal) business is now complete.

On November 25, 2021, the board of the Sajjan Jindal-led company had approved the streamlining of the renewable portfolio and the setting up of a holding structure to unlock and enhance the shareholders’ value.

To effectuate the reorganisation, the following steps have been taken:

1. Transfer of 100 percent equity shares held by JSW Future Energy Limited in (i) JSW Renew Energy (Kar) Limited and (ii) JSW Renewable Energy (Dolvi) Limited, to JSW Neo Energy Limited (JSWNEL).
2. Transfer of 100 percent equity shares held by JSW Hydro Energy Limited in JSW Energy (Kutehr) Limited to JSWNEL.
3. Transfer of 100 percent equity shares held by the company in JSW Hydro Energy Limited to JSWNEL.

Earlier this year, JSW Energy Joint Managing Director and Chief Executive Officer Prashant Jain had said that it aims to scale up its capacity to 20 gigawatts (GW) by FY2030 from 4,559 megawatts (MW), primarily through the new renewable energy arm.