Mobility will be redefined with new technology coming in as electric cars: JSW Energy

In an interview to CNBC-TV18, Prashant Jain of JSW Energy spoke about the results and his outlook for the company.

Q2 of FY18 was a seasonal quarter and then there was a shutdown which we had planned in our Maharashtra unit because of which the plant load factor (PLF) was lower. Going forward, we need to see that other power plants are running at a better PLF, he said.

Specifically about long-term power purchase agreements (PPAs), he said that we have already finalised long-term PPAs with government of Haryana and government of Punjab. All this will be fructifying in the current financial year. We are also concentrating on our domestic coal strategy and we will be able to do long-term PPAs for Vijaynagar unit, he added.

Going forward, the mobility is going to be redefined with new technology coming in as electric cars and then we will be designing cars for Indian markets, Indian consumers and Indian roads and it will be a Made in India car, said Jain.

The company has signed a MoU with the government of Gujarat to set up a complete manufacturing facility for electric cars as well as for battery manufacturing. We envisage close to Rs 4,000 capital expenditure in the next three-four years timeframe which will be funded by equity and debt, he further mentioned.

For full interview, watch accompanying video...