JSW Energy To Raise Rs 13,500 Cr Debt For Power Projects
JSW Energy is planning to raise Rs 13,500 Cr through debt this year to fund its two coal-based power projects.
It is developing a 1,600-Mw project in West Bengal with cost of Rs 11,000 Cr and a 1,320-Mw project in Chattisgarh with a cost of Rs 7,000 Cr.
JSW Energy Ltd. is a power producing company and is a group company of JSW Group headed by Sajjan Jindal.
Transaction Reference: BS
JSW is in the process of developing the 240-Mw Kutehr hydro power project in Himachal Pradesh, with a project cost of Rs 2,000 Cr. JSW Energy has a capacity of 995 MW and is executing projects to add 2145 MW by the end of 2010-11. It plans to have a combined installed capacity of 11,390 MW by 2015.
Two projects in the construction stage, 1,200 Mw plant at Ratnagiri, Maharashtra and 945 Mw plant in Barmer, Rajasthan, will be commissioned this year.
It also plans to bid this year for two ultra mega power projects (UMPPs) in Chhattisgarh and Orissa.
This year in April, it acquired a 49.8% stake in Royal Bafokeng Capital (Proprietary) Ltd that owns shares in South African Coal Mining Holdings Ltd from Strider Holdings (Proprietary) Ltd.
JSW Energy recently raised Rs 2,700 crore from an initial public offering.
In the power and energy space, many companies are in the process to raise funds for their projects. Gemac Energy Ltd is raising Rs.600 Cr, GMR Energy has planned to raise Rs 10,275 Cr of debt, Tata Power is raising $300 Mn from Olympus Capital Asia III by selling stake in its two SPV's - Bhira Investments Ltd and Bhivpuri Investments Ltd to clear its debt and fund its project and acquisitiions and many others.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 25/05/11 | JSW Energy - Ispat Industries | M&A | Ispat Industries Limited | 36.00 |
| 09/12/10 | JSW Energy - IPO | IPO / Offerings | 597.74 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 08/02/12 | IPO / Offerings | Usher Eco Power Limited | 17.33 | Planned | |
| 05/01/12 | IPO / Offerings | Urja Global Limited | 34.53 | Completed | |
| 03/01/12 | Private Equity | JP Morgan Partners | Leap Green Energy Private Limited | 18.81 | Completed |
| 15/12/11 | Private Equity | Looking For | Visa Power Limited | 98.80 | Planned |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| JSW Energy Limited | Sajjan Jindal | Jindal Mansion, 5A, Dr G Deshmukh Marg, Mumbai-400026, India. |
GEMAC Energy Limited GMR Energy Limited NTPC Limited Central India Power Company Limited |
www.jswel.net |
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