JSW Energy is focusing on acquiring power assets for the company and in order, to that, the company is planning to lift up funds of Rs 21,000 crore via debt and equity in FY17-18.
The plan is to hoist funds of Rs 5,000 crore from secured and unsecured non-convertible debentures on a private placement basis, and over Rs4,800 crore via foreign currency bonds and masala bonds and the rest corpus of Rs 7,500 crore via the issuance of fresh equity through qualified institutional placements and other equity options.
We have passed an enabling resolution to raise debt and equity which would help us in the consolidation process as and when we decide to buy any asset. It would help us to save time and effort then, Sajjan Jindal, chairman of JSW Group.
The company is evaluating some of the stressed assets in the solar and wind segment along with thermal and hydro projects and if anyone suits our requirement we would buy them. We believe since the situation is dynamic and these assets are overpriced in the current scenario, both the lenders and the bidders will have to take a haircut to revive these projects Jindal said.
He further added, JSW Energy is well placed on priority as one of the lowest cost producers in the country to be meeting the shift in demand.