By PTI | New Delhi
JSW Energy looks to operationalise its battery assembly plant in Pune, Maharashtra, in the third quarter of this financial year, a company official said.
In an investor call, the company’s Joint Managing Director and CEO, Sharad Mahendra, also said that trial runs for green hydrogen project having a capacity of 3,800 tonnes per annum (TPA) at Vijayanagar are near complete and its commissioning is expected soon.
The company is setting up a battery assembly plant at Pune in Maharashtra with an annual capacity of 5 gigawatt hour (GWh), he said.
Last week, the company said its consolidated net profit declined over 17 per cent year-on-year to Rs 705 crore in September quarter, weighed down by a surge in expenses.
It had clocked a net profit (profit after tax or PAT) of Rs 853 crore in the second quarter of preceding 2024-25 financial year, the JSW Group entity said in an exchange filing.
In the latest July-September period, the company registered a 59 per cent year-on-year rise in total revenues to Rs 5,361 crore from Rs 3,459 crore in the year-ago period.
Additionally, JSW Energy‘s wholly-owned subsidiary, JSW Neo Energy, has recently signed a pact with Statkraft IH Holding AS to acquire 100 per cent equity shares of Tidong Power Generation for Rs 1,728 crore.
The transaction is subject to the receipt of necessary regulatory approvals and other customary conditions under the definitive agreement, JSW Energy said in a regulatory filing late on Thursday.
The transaction values the asset at an enterprise valuation of approximately Rs 1,728 crore, subject to closing adjustments agreed under the share purchase agreement, it said.
The company is present across several Indian states and has stakes in natural resource companies in South Africa. JSW currently generates 8,400 MW, out of which 3,508 MW is thermal power, 1,391 MW is hydropower, 2,826 MW is wind and 675 MW is solar power.
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