Sajjan Jindal-led JSW Energy is looking to acquire stressed hydro projects to increase its renewable energy portfolio, along with reviving its 240-megawatt (MW) Kuther hydro power project in the state.
The company at present has two operating hydro power projects with a total capacity of 1,300 MW in the state, which it had acquired from Jaiprakash Power Ventures for Rs 9,700 crore in FY16.
“We want to increase our hydro power portfolio and we are definitely looking at various opportunities including stressed hydro projects at present.
“We are evaluating a few of them in addition to reviving our own 240-MW Kutehr project,” the company’s chief operating officer (energy business), Sharad Mahendra, told reporters here.
The work on the Kutehr project was stalled eight years ago mainly due to lack of a favourable hydro policy and clarity on long-term power purchase agreement for the capacity. Read more
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