BS reported that JSW Energy is planning to become an integrated power company by bringing in a partner for its transmission business and in its proposed distribution business. The company has short listed three companies for the proposed partnership in transmission.

For its expansion plan, the company is planning to acquire coal mines abroad. It will invest INR 14,048 crore over five years in power generation, transmission and mining. It plans to raise around INR 3,000 crore through a public offer.

Mr Pramod Menon CFO of JSW Energy said that “The company’s main business is production, and going forward, we would like to become an integrated power company.”

Mr Menon added that “We are talking to three foreign companies for a potential technology tie up. We will not dilute any stake and the partnership would be on a project to project basis.” He further added that the company is also planning to foray into power distribution business through the same model.

JSW Energy has floated Jaigad Power Transco a joint venture company floated with Maharashtra State Power Transmission. JSW Energy holds 74% stake in the company which bagged a INR 580 crore order for a 169 km transmission line. To strengthen this business, the company plans to bring in a technology partner.

On the power production business, Mr Menon said that the company planned to invest INR 14,048 crore over five years. Of this, INR 9,500 crore will be invested before March 2011. He said the company commissioned a 600 MW power plant in Vijayanagar and a 135 MW plant at Barmer in Rajasthan. With the recent addition of 735 MW the company now has 995 MW generating capacity.

JSW Energy’s power generation capacity is likely to go up to 3,140 MW by April 2011 and 11,390 MW by September 2015. The new plants will be in Karnataka, West Bengal, Jharkhand, Rajasthan, Maharashtra, Himachal Pradesh and Chhattisgarh.

(Sourced from Business Standards)