The JSW Energy, a subsidiary of JSW Group, has earmarked Rs 8,000 crore to build two thermal power projects of a combined capacity of over 2,000 MW in Chhattisgarh and Orissa during the current fiscal.

The group is looking for coal mines in Chhattisgarh and Orissa for the proposed projects and it has already signed an MoU with the Chhattisgarh Government. Currently, the land acquisition process is on for the proposed project of 2X660 MW unit in Orissa.

The financial closure for these projects is expected to be completed by the end of the current fiscal, along with the group's other projects in West Bengal and Jharkhand, where land acquisition has been completed. The debt-equity ratio for the projects will be 3:1 and the funds are likely to come from a consortium of domestic banks led by SBI. JSW Energy has also entered into strategic tie-ups with China's Shanghai Electric and Dong Fang of Korea to supply power equipment for the power plants.

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