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The JSW Group, known for taking over stressed assets and turning them around, is scouting for acquisitions in the power sector.
Speaking to BusinessLine , Sajjan Jindal, Chairman, JSW Group, said the power sector is in a consolidation phase and there are some assets available at attractive prices. “We have listed a few potential targets and are closely evaluating one of them,” he said.
Last year, JSW Energy acquired two hydro-electric projects of Jaiprakash Power Ventures for ₹9,700 crore. Under the terms of the deal, JSW Energy will acquire the 300 MW Baspa II hydroelectric project and 1,091 MW Karcham Wangtoo hydro-electric projects in Himachal Pradesh.
Allaying fears of huge debt, Jindal said margins were very strong for the company. “I do not see any worry in servicing our debt. Our debt-to-equity and debt-to-Ebitda levels are the best in the industry,” he said.
Jindal expects a revival in corporate earnings by November as the demand in rural economy has already started picking up.
“The Government has also announced a series of investments in infrastructure projects and plans to build houses for the poor. I think there will be a revival post Diwali,” he said.
Iron ore availability in Karnataka has already improved and the time is now right to enhance the annual production cap fixed by the Supreme Court, said Jindal.
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