On October 31, JSW Energy announced that Prashant Jain, its Joint Managing Director and Chief Executive Officer, has tendered his resignation from his current position. Upon his departure, he will no longer hold a directorship within the company.
In an official exchange filing, the company stated, “Prashant Jain has expressed his intention to take early retirement from active professional life to pursue his personal interests and accordingly step down from the position of Joint Managing Director & CEO and as a Key Managerial Person of the Company.”
To ensure a smooth transition, Jain has committed to continue serving in his current role until January 31, 2024. The company has initiated a search process to identify a suitable candidate, whether from within the organization or externally and will communicate the results in due course.
Reflecting on his tenure and the company’s accomplishments, Jain stated in his resignation letter that JSW Energy has significantly expanded its power generation capacity, growing from 4.5 GW to 9.8 GW. Furthermore, there are 3 GW of construction projects slated for commissioning by December 2024. The company has also made a notable transition from being primarily a thermal power producer to a renewable power producer, boasting a diverse portfolio that includes Wind, Hydro, and Solar power plants.
Additionally, Jain highlighted the successful acquisition of Mytrah assets, which added 1.7 GW of renewable capacity, and the inclusion of lnd-Barath’s thermal assets, contributing nearly 0.7 GW of thermal capacity.
Prashant Jain has been a part of the JSW Group for 28 years. He began his journey as an Assistant Manager – Projects at JSW Steel’s Tarapur plant in December 1995. In 2003, he transitioned to working with the Chairman’s office and eventually earned his promotion to the position he currently holds in 2017.
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