In an interview to CNBC-TV18, Prashant Jain, Joint MD & CEO of JSW Energy spoke about the latest happenings in the company and the sector.
JSW Energy is betting big on electric vehicle (EV) space and we can see first product launch in 3-4 years. That's the word coming in from Prashant Jain, Joint MD and CEO of JSW Energy. In an interview with CNBC-TV18’s Yash Jain, he said that the company is looking for partnerships with original equipment manufacturers (OEMs).
There has been a change of guard at JSW Energy. Prashant Jain has taken over as the Joint MD and CEO from Sanjay Sagar last month. 28,000-30,000 megawatt (MW) of the capacity is stranded and sitting idle at this point in time and these are high cost power plants which are right now sitting with huge debt, he said.
JSW Energy signed a short-term power purchase agreement with Karnataka State Electricity Board. DK Shivakumar of the Energy Department at the Government of Karnataka speaking to CNCB-TV18 confirmed the news saying the government has tied up with the company for 600-750 MW of power.
Specifically talking about Ramchandi coal block, the MD & CEO of Jindal Steel & Power (JSPL), Ravi Uppal said that the coal block was never used by the company. However, the project related to that was cancelled post deallocation of the block.
After notching up Jaypee Group's 500MW Bina thermal power plant, JSW Energy is on the lookout for more assets to buy in the power space, CEO and Joint MD Sanjay Sagar says.
Harshvardhan Dole of IIFL said prima facie this deal will help to allay investor concerns.
Chintan Mehta of Sunidhi Securities feels JSPL has received good valuations and the deal will prove to be earnings per share (EPS) accretive
JSW Energy has not yet taken a decision on whether it wants to acquire 74 percent stake in Monnet Power, Chief Executive Officer Sanjay Sagar has told CNBC-TV18.
Talking to CNBC-TV18 about the business outlook going forward, he said the company is looking at various acquisitions and would be around 6000-7000 MW operational capacity in two years time.
JSW Energy joint managing director and chief executive officer Sanjay Sagar says the twin projects have increased the company's power generation capacity to 4,500 MW.
The Baspa II and Karcham Wangtoo hydro projects contributed Rs 1,800-1,900 crore of FY15 revenues, says Suren Jain, MD, Jaiprakash Power Venture
The two companies have also entered into a binding Memorandum of Understanding (MoU) for JSPVL‘s 500 MW Bina Thermal Power Plant.
In an interview with CNBC-TV18, Sanjay Sagar, CEO of JSW Energy said valuations will be decided once due diligence is complete.
Sanjay Sagar, Joint MD and CEO, JSW Energy, said overall demand for power is weak and the company may revisit its earlier guidance of Merchant power realization
According to sources, JSW Energy and Tata Power are eyeing Monnet Power, while JSW Steel is eyeing the Orissa Sponge asset.
Sanjay Sagar, joint managing director & chief executive officer, JSW Energy, says he‘s confident of getting all the necessary approvals, especially the ones from Central Electricity Authority (CEA).
RV Shahi, Former Power Secretary says the total generation capacity at the moment is 240,000 MW, whereas the grid is drawing not more than 120,000-130,000 MW.
Merchant realisations have been steady in southern India, but have been subdued in the West and North, joint MD and CEO Sanjay Sagar said.
With the hike in basic custom and countervailing duty (CVD) on steam coal NK Jain, vice chairman, JSW Energy tells CNBC-TV18 that the cost of power generation will rise by nearly 3-4 paise/unit.
Citing the SEB restructuring package as directional move, NK Jain, vice chairman, JSW Energy told CNBC-TV18 that, to avoid such losses in future, SEBs must be permitted to function independently.
NK Jain, vice-chairman, JSW Energy, says that he expect the Barner project to be a good project.
In an exclusive interview to CNBC-TV18, Lalit Kumar Gupta, joint managing director and chief executive officer of JSW Energy says that almost all of their power units are running at full capacity.
As far as loan payment issues regarding State Electricity Boards (SEBs) are concerned, Khunteta said that most SEBs pay back on time, while there are payment delays from boards in north eastern states until they get money from the Central Government.