JSW Energy, the JSW Group’s power generation subsidiary, today said it will invest Rs 475 crore to set up a 400-kv transmission evacuation system in Maharashtra in a joint venture with Maharashtra State Electricity Transmission Company (Mahatransco).
Vice-Chairman and Managing Director of JSW Steel, Sajjan Jindal, told Business Standard that JSW Energy is talking to Karnataka government for a similar project. S S Rao, joint managing director and CEO of JSW Energy, told reporters that the debt-equity ratio for the Maharashtra project is 70:30 and the debt portion has already been tied up.
Both JSW Energy and Mahatransco have formed a special purpose vehicle (SPV), Jaigad Power Transco. JSW will have a 74 per cent stake in the SPV, while the balance 26 per cent will be held by Mahatransco.
JSW is setting up a 1,200 MW project at Jaigad, in Ratnagiri district, and the SPV will evacuate power from this plant.
The company said the SPV has applied for becoming a transmission licencee in the state.
