PTI reported that JSW Energy, a subsidiary of the JSW Group, is evaluating opportunities to acquire coal assets overseas.

Mr Sajjan Jindal chairman of JSW Energy said “We aim to increase fuel security to cover our entire requirement. We have been continuously exploring and evaluating various opportunities in the overseas market.”

He said “We are also continuously identifying and developing relationship with coal miners in some large coal exporting countries to ensure procurement of quality thermal coal at competitive rates and longer term contracts.”

As per report, JSW Energy is scouting for mines in South Africa, Indonesia, Mozambique and Australia. Presently, the company owns a majority stake of 93.27%in South African Coal Mining Holding.

According to the company's annual report, JSW Energy has been alloted a share of the Utkal coal block in Odisha, where it has completed public hearing and is currently in the process of land acquisition.

Presently, the company is importing coal from overseas market to meet its fuel requirements, as it does not have any captive mines in the country.

The current generation of the company stands at 2,600 MW and it would commission another 540 MW by December end. Also, the work on projects in West Bengal 1,320 MW, Karnataka 660 MW and Jharkhand 1,620 MW are at present not being pursued aggressively.

Source - PTI

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