JSW acquires KWIPL, commissions first unit of Kutehr hydro project
Author: PPD Team Date: August 5, 2025
JSW Energy Limited, as per its recent announcements, has acquired a 51 per cent stake in KSK Water Infrastructures Private Limited (KWIPL) and commissioned the first unit of its 240 MW Kutehr hydroelectric project in Himachal Pradesh.
The KWIPL transaction was completed under a settlement plan approved by the National Company Law Tribunal (NCLT), Hyderabad Bench. JSW Energy paid Rs 962 crore to KWIPL’s lenders, acquiring a majority stake. The remaining 49 per cent is held by KSK Mahanadi Power Company Limited (KMPCL), a JSW subsidiary.
KWIPL supplies water to KMPCL’s 3,600 MW thermal power plant in Chhattisgarh. The plant currently has 1,800 MW operational and another 1,800 MW under development. The acquisition secures control over a key infrastructure asset essential for full-capacity operations. NCLT cleared the withdrawal of KWIPL’s insolvency proceedings on 23 July 2025 under Section 12A of the Insolvency and Bankruptcy Code, 2016.
KWIPL was incorporated in 2009 and reported revenue of Rs 30 crore in FY2025. JSW Energy had acquired KMPCL in March 2025, making KWIPL’s integration critical for operational efficiency.
Meanwhile, JSW Energy has started power dispatch from the first 80 MW unit of the Kutehr hydro project, located in the Chamba district. The second unit has been synchronised and is undergoing trial runs. The third unit is expected to be synchronised soon.
The project is backed by a 35-year Power Purchase Agreement (PPA) with the Haryana Power Purchase Centre at a levelised ceiling tariff of Rs 4.50 per kWh. The entire 240 MW capacity will supply electricity to Haryana’s distribution utilities, Uttar Haryana Bijli Vitran Nigam and Dakshin Haryana Bijli Vitran Nigam.
With this commissioning, JSW Energy’s installed hydro capacity stands at 1,471 MW. Its renewable portfolio now includes 2,157 MW of solar and 3,562 MW of wind capacity, bringing the share of renewables to 56 per cent. The company aims to reach 30 GW of total generation capacity and 40 GWh of energy storage by FY2030, aligned with its carbon neutrality target for 2050.