JSW Energy, one of the leading integrated power companies in India, has been making significant strides in the renewable energy space. The company is open to an IPO or private equity investment in JSW Neo, which houses all the company's renewable energy assets. This move is aimed at raising funds for the company's ambitious expansion plans.

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It has also completed the acquisition of Mytrah's renewable energy portfolio. Mytrah portfolio assets have long-term PPAs with an average remaining life of 17 years.

In an interview with CNBC-TV18, Prashant Jain, Joint MD and CEO of the company said that the company is open to IPO or PE investment in JSW Neo, adding that the company plan to spend Rs 10,000 crore every year to expand its renewable energy portfolio and therefore, it’s open to tap capital markets to fund its growth plans.

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He said, “We will be spending close to Rs 10,000 crore every year for next 10 years, which can be done from internal accruals and, we can lever up balance sheet to do acquisitions and at the same time we will be looking at tapping the capital markets through strategic investor or an IPO route at the JSW Neo level at opportune time.”

While the company is committed to growing its renewable energy portfolio, Jain emphasized that the company is also looking at more inorganic opportunities in the space. This indicates that JSW Energy is open to acquisitions and mergers that can help it expand its presence in the renewable energy sector.

Apart from renewable energy, JSW Energy is also exploring opportunities in the pumped hydrogen space. Jain believes that pumped hydrogen can play a critical role in India's transition to a low-carbon economy.

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“We are looking at a couple of more acquisitions as well as other growth opportunities. Hydrogen pump storage and green hydrogen are other opportunities. So, we are looking to tap the capital for the likeminded people who are believing in the India story for the long-term perspective,” Jain added.

He also touched upon the current state of the power market in India. Jain said that power prices have cooled in recent times, which has affected the profitability of power companies. Additionally, pricing caps on merchant prices have been lowered from Rs 12 to Rs 10, which has further impacted the industry.

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