JSW Energy incorporates JSW Solar

JSW Energy Limited incorporated a wholly owned subsidiary, JSW Solar Limited, on January 1, 2018 to venture into the renewable energy sector. The subsidiary will be involved in segments such as energy storage systems, microgrids and electric vehicles. The approval to incorporate one or more subsidiaries for the clean energy sector was given by the company’s board in August 2017. Reportedly, the company would require a capex of Rs 35,000-Rs 40,000 million over the next three years. Recently, JSW signed an agreement with the Gujarat government to set up a manufacturing facility for electric cars and battery energy storage systems.

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