India's energy sector is likely to see $20-30 billion capex in the coming ten years, according to Prashant Jain, at a time the country is sharpening its focus on renewables.
This capex will be required merely on the power generation side in addition to transmission, the joint managing director and chief executive officer of JSW Energy Ltd. told BloombergQuint's Niraj Shah in an interview post its third-quarter earnings. He expects power demand in India to grow 5-6% over the next 10 years.
This comes at a time when the Union Budget announced on Feb. 1 reiterated India's focus on building its renewable energy capacity. JSW Energy, even in its previous conversations with BloombergQuint, has mentioned that all new acquisitions will aim to increase its renewable capacity.
Speaking about the competition, Jain said “only a handful of serious players with robust balance sheets who can execute such projects and hence attract capital to execute said projects”.
Q3 FY21 Earnings Highlights (YoY)
- Revenue fell 17% to Rs 1,608.9 crore.
- Ebitda slipped 5.3% to Rs 604 crore.
- Profit after tax fell 68.6% to Rs 123.5 crore.
Watch the full conversation here:
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