Power utility JSW Energy Ltd said it received approval from its board to develop a 660MW power plant at Vijayanagar in Karnataka at an estimated cost of Rs3,300 crore. The project will be funded with a debt-equity ratio of 3:1, JSW Energy said in a statement.
The company also received board approval to create a special purpose vehicle for its 240MW Kutehr hydroelectric power project being develop at Chamba district in Himachal Pradesh, it added.
On Tuesday, JSW Energy shares declined 0.7% to Rs118 on the Bombay Stock Exchange, while the benchmark Sensex 0.1% down at 20,345 points.
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