JSW Energy plans to halve its carbon footprint by 2030 to achieve carbon neutrality by 2050 by transitioning towards renewable energy, including wind, solar and hydropower.
The company's subsidiary JSW Hydro Energy plans to raise $750 million with the issuance of green (subject to certification) bonds in the international markets.
JSW Energy is committed to its sustainability target, and progress on various initiatives is being reflected in its rating. In this year, MSCI has upgraded the company's ESG rating to 'BB', among the highest-rated power producers in India with the existing portfolio of thermal generation, it said.
Also, the Carbon Disclosure Project upgraded its rating to 'B' which is also the highest rating to be achieved by a power company in India.
The company has 1500 MW of renewable energy project under implementation. Upon completing these projects, the company's overall capacity will increase to 6 GW, with renewable energy accounting for about 50 per cent at 2.8 GW.