JSW Energy posted its Q1FY22 earnings, which came in below street estimates. Revenue and profit, both declined and margins have also contracted for the company this quarter. Prashant Jain, Joint MD and CEO of JSW Energy, discussed this further.

Over a period of next three quarters, EBITDA number will be inching higher, he said.

The company has embarked upon 2.5 gigawatt projects. “We are spending close to Rs 15,700 crore. Average tariff of this 2.5 GW is around Rs 3.30 paisa and we will be doing and commissioning approximately 200-225 MW in the current financial year. Next financial year onwards, every month you will be seeing 100–115-megawatt (MW) commissioning or 400-500 MW on a quarterly basis,” he shared.

The company has an agreement with an Australian company called Fortescue Future Industries and is looking to get into the production of Green Hydrogen.

“This is a new age business. Right now, India is having a 6 million tonne per year of the green hydrogen market, which is primarily used in refineries, chemical, fertilisers, steel industry and is produced from the natural gas, which is having a scarcity and in due course of time you are going to see that green hydrogen will be produced from the electrolysis of water and power will be renewable power,” he stated.

“The green hydrogen pricing is around USD 1.8-2.25 per kilogram. On a price parity, it is going to take four-five years to bring down that cost but government of India is working on a new policy regime in which the green hydrogen purchase obligations will be invoked like it is in case of renewable power or hydro power or solar winds,” he added.

For the full interview, watch the accompanying video.

(Edited by : Dipika Ghosh)

First Published:Aug 2, 2021 2:04 PM IST