JSW Energy completes Rs 1,410 crore buyout of Korba thermal plant
JSW Energy Limited has completed the acquisition of 100% equity in Maruti Clean Coal and Power Limited (MCCPL), adding a 300 MW thermal power plant in Korba, Chhattisgarh to its portfolio. Following the acquisition, MCCPL has become a wholly-owned subsidiary of JSW Energy, taking the company’s total installed generation capacity to 14,835 MW.
The acquisition follows the definitive agreement signed on June 13, 2026, and values MCCPL at an enterprise value of Rs 1,410 crore.
Plant profile
MCCPL reported EBITDA of around Rs 279 crore in FY26 and is expected to be EBITDA- and PAT-accretive from the first day of consolidation.
The plant has a long-term Power Purchase Agreement (PPA) for 195 MW (net) with Rajasthan discoms through PTC India, with a residual tenure of around 14 years. Another 5% of the plant’s generation is supplied to the Chhattisgarh discom at variable cost, while the remaining capacity of about 64 MW is sold in the merchant market.
Coal requirements are secured through a long-term Fuel Supply Agreement with South Eastern Coalfields Limited (SECL) and coal linkage under the SHAKTI scheme.
Commenting on the acquisition, Mr. Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, said: “The completion of the MCCPL acquisition reinforces our commitment to disciplined growth and value-accretive opportunities. The asset complements our existing generation portfolio and enhances our ability to deliver dependable power while supporting India’s growing energy needs. Beyond the immediate financial benefits, we see further upside from optimisation of logistics and O&M costs, with the plant’s proximity to our Mahanadi facility unlocking operational synergies and strengthening our regional thermal footprint. We are delighted to welcome the MCCPL team into the JSW Energy family.”
Expansion
Following the acquisition, JSW Energy’s operational thermal capacity stands at 5,958 MW. The company is constructing 3,800 MW of additional thermal capacity at its Salboni and Mahanadi plants and has identified a further 1,200 MW brownfield expansion opportunity at Mahanadi.
Overall, JSW Energy has 32.4 GW of locked-in generation capacity, comprising 14.8 GW operational, 13.6 GW under construction and a 4 GW pipeline. The company also has 29.6 GWh of locked-in energy storage capacity, including 26.4 GWh of pumped hydro storage and 3.2 GWh of battery energy storage systems.
JSW Energy has set a target of achieving 30 GW of generation capacity and 40 GWh of energy storage capacity by 2030, along with carbon neutrality by 2050.
The featured photograph is for representation only.
