JSW Energy wants to consolidate the sector in power: Sajjan Jindal, JSW Steel

The capital expenditure plans are already always there, says Sajjan Jindal, CMP, JSW Steel. In an interview to ET Now, Jindal states that JSW Energy wants to consolidate in the power sector. Edited excerpts:

ET Now: You have announced today that you will raise Rs 5,000 crore from international investors. What is that money going to be used for?

Sajjan Jindal: No, this is an enabling provision that we have made for raising these monies from international resources. The capital expenditure plans are already always there.

ET Now: If you can tell us briefly about the acquisition strategy for JSW and can you tell us briefly about that?

Sajjan Jindal: JSW Energy is wanting to consolidate the sector in the power, there are a lot of stressed assets in the country and the idea is to consolidate and whatever asset is worthwhile we will consolidate.

ET Now: And you have extended the JSPL’s acquisition by two years, what is the reason for that?

Sajjan Jindal: JSPL is trying to organise the fuel supply as well as PPA, once that is done then they want to sell. They want to maximise their value and we are okay with that as long as we FSA and PPA which gives us the first return on our investments.