
JSW Energy Limited has announced a significant milestone in its operations, receiving the Letter of Intent (LoI) for the 3,600 MW KSK Mahanadi Thermal Power Plant under the corporate insolvency resolution process. The resolution plan was approved by the Committee of Creditors, marking a major step for JSW Energy in expanding its energy generation capacity.
Key Details of the Acquisition:
- Plant Capacity: The KSK Mahanadi Power Company Limited (KMPCL) owns a 3,600 MW thermal power plant located in Chhattisgarh. Currently, 1,800 MW is operational, with 95% of its output tied up under long and medium-term power purchase agreements (PPAs). The remaining 1,800 MW is under construction, with one 600 MW unit 40% complete and infrastructure in place for the remaining capacity.
- Strategic Advantages:
- Proximity to a coal block ensures efficient fuel supply.
- Water and coal transportation infrastructure is secured for the full 3,600 MW capacity.
- The acquisition aligns with JSW Energy’s strategy of integrating conventional and renewable energy sources to meet rising energy demands.
- Impact on JSW Energy:
- This acquisition increases JSW Energy’s locked-in thermal generation capacity to 7.5 GW and total locked-in generation capacity to 28.2 GW.
- Positions the company to achieve its target of 20 GW power generation capacity well before 2030.
- Regulatory Approvals:
- The closure of the transaction is contingent on approvals from the National Company Law Tribunal (NCLT) and the Competition Commission of India.
Leadership Comments:
Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, highlighted the strategic significance of the acquisition, stating, “This milestone reinforces our commitment to addressing the nation’s energy needs with a diversified mix of reliable power sources. Our focus remains on operational excellence and exploring growth opportunities in the energy sector.”
About JSW Energy:
Part of the USD 24 billion JSW Group, JSW Energy is one of India’s leading private-sector power producers. The company operates a diverse energy portfolio of thermal, wind, hydropower, and solar projects, with a vision to achieve a total capacity of 20 GW by 2030 and a net-zero target by 2050.
This acquisition reflects JSW Energy’s robust growth strategy and commitment to sustainable development in the energy sector.