JSW Energy Reports 32% Surge In Renewable Generation in Q4

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JSW Energy Limited yesterday announced its Q4 Financial Results. The Indian private power producer said that its net renewable generation increased 32 percent on Year-on-Year (YoY) basis. In addition, it said that the commissioning of 225 Megawatts (MW) of the Vijayanagar solar power plant helped increase its clean energy generation. 

The firm said earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at Rs 881 crore, up by 7 percent YoY in Q4, apparently because of the RE capacity additions. However, the company also reported a net profit of Rs 272.05 crore for Q4, which was a 68 percent decline on a YoY basis. 

JSW Energy now has 6.6 GW of operational capacity and 3.2 GW of energy projects under construction, which are slated to be completed by 2024. The company has aimed to add 20 GW of energy capacity by 2030 and energy storage of 40 Ghw/5GW by the same period. The company now has 1.26 GW of wind projects and 240 MW of the proposed Kutehr Hydro Electric Project. 

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The company reported a net generation of 5,067 Million Units (MU) of electricity in Q4, a 16 percent rise in YoY. As per the details furnished by the company, during Q4, the total revenue increased by 6% YoY to Rs 2,806 crore from Rs 2,655 crore YoY due to higher generation and increased renewable capacity. However, financial costs during the quarter increased to Rs 233 crore in Q4 compared to Rs 170 crore in the Q4 of FY22. The company attributed this to the additional borrowing and increase in the weighted average cost of debt. 

The power producer said that on an annual basis, the company reported an increase in its operating capacity by 44 percent from 4.55 GW to 6.56 GW. The Board, meanwhile, has also recommended a dividend of Rs 2 per share, subject to the approval of the stakeholders.

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