JSW Energy Q4 Results- Renewables Pipeline Climbs to 3.4 GW, WTG Manufacturing In Works

JSW Energy Limited reported its results for the quarter (“Q4 FY24” ) and the financial year FY24 ended March 31, 2024, on May 7.

 FY2024 – Delivering Sustainable Growth

JSW Energy delivered a strong performance in FY24, achieving the highest-ever EBITDA of ₹5,837 Crore. The company made significant strides towards the outlined target of 20 GW by FY2030 by locking in additional RE (Renewable Energy) projects with a cumulative capacity of 3.4 GW.  EBITDA for Q4 rose 47% to Rs 1292 crore on a YoY basis. PAT increased 29% to Rs 351 crore. For the full year PAT increased 17% to Rs 1723 crore. 

Following are some of the key achievements and recent developments:

§  Strong Financial Performance: EBITDA for the year increased by a robust 53% YoY to ₹5,837 Crore resulting in PAT growth of 17% YoY to ₹1,723 Crore.

§  Successfully Raised Growth Capital: Raised ₹5,000 Crore of equity growth capital through Qualified Institutional Placement. The issue was subscribed 3.2 times witnessing an overwhelming response from marquee global and domestic investors.

§  Strengthens Project Pipeline: Secured additional RE projects with a cumulative capacity of 3.4 GW during the year, exhibiting a notable 36% surge in the locked-in capacity to 13.2 GW.

§  Capacity Growth: Added greenfield capacity of 681 MW during the year. Achieved a significant milestone by commissioning Ind-Barath Unit 1 (350 MW), marking it one of the fastest revivals of a stalled thermal power plant in India.

§  Forayed into Energy Products and Services: Signed BESPA for India’s largest BESS project and the preparatory site works have started. The 250 MW /500MWh project has been signed up with SECI, with preparatory work having started

JSW’s renewable generation during the quarter rose 124% YoY to 1.3 Billion Units.

On Wind energy, the firm has a 1 GW pipeline of projects to be executed, won at SECI’s Tranche XVI auction. Besides this, it has also entered into a technology licensing agreement with with China’s  SANY Renewable Energy for manufacturing WTG’s.

In Solar, it has 2.4 GW of bids it has won in the pipeline, which includes 700 MW each from SJVN, NTPC and SECI. There is an additional 300 MW from GUVNL.