Shares of JSW Energy gained traction after the company successfully secured a coal block in Odisha on the first day of the 10th round of commercial coal mine auctions, conducted by the Coal Ministry on November 21, 2024. The auction saw a total of five coal blocks awarded to various companies, including NLC India Ltd, ACC Ltd, and two private players.
The awarded coal block strengthens JSW Energy’s resource base, supporting its operational efficiency and future expansion plans in the energy sector. The company aims to reduce dependency on external coal procurement and ensure a steady supply for its thermal power projects.
The five coal blocks allocated on the first day of the auction have a combined geological reserve of 2,630.77 million tonnes and a cumulative peak rated capacity of 12 MTPA. Once operational, these blocks are expected to generate annual revenue of ₹1,106.91 crore, attract capital investments of ₹1,800 crore, and create employment for 16,224 people.
The acquisition aligns with JSW Energy’s strategy to secure raw materials domestically, ensuring sustainability and cost-effectiveness in its operations. The move is viewed as a significant positive step for the company’s long-term growth.
