Sajjan Jindal Leads JSW on Renewables Path

Industrialist Sajjan Jindal has made his big move on the renewable energy front, by housing JSW Energy’s renewable businesses—both existing and upcoming—in a new entity called JSW Energy Neo. Currently, JSW Energy has an installed capacity of 4,559 MW, of which thermal is 3,158 MW and the rest, hydro and solar. The plan is to take capacity to 20 GW by 2030, with 85 per cent in renewables. According to Jigar Shah, CEO, Kim Eng Securities India, JSW Energy’s reorganisation is in line with global utilities bracing for net zero emissions by 2050 or earlier. “By then, coal assets would be stranded and will not get financing,” he says. The company, adds Shah, also plans to make green hydrogen, an alternative which is expected to form 10 per cent of the total energy basket by 2050.