JSW Energy completes Rs 700 crore acquisition of rail logistics arm

JSW Energy Limited has completed the acquisition of Raigarh Champa Rail Infrastructure Private Limited, making it a wholly-owned subsidiary. The transaction follows the implementation of a resolution plan approved by the National Company Law Tribunal (NCLT) Hyderabad Bench on January 21, 2026.

The acquisition was executed under the corporate insolvency resolution process (CIRP) of the Insolvency and Bankruptcy Code, 2016 (IBC), with a total resolution value of Rs 700.10 crore. This includes a mix of cash consideration and non-convertible debentures (NCDs) issued to financial creditors.

The acquisition aligns with JSW Energy’s thermal power strategy in Chhattisgarh. Raigarh Champa Rail Infrastructure Private Limited is the sole provider of railway logistics for coal transportation to JSW Mahanadi Power Company Limited (JMPCL), formerly KSK Mahanadi.

JMPCL operates a 3,600 MW thermal power plant in Janjgir-Champa district, with 1,800 MW currently operational and the remaining 1,800 MW under construction. The revival of the under-construction capacity is targeted by 2030. JSW Energy holds a 74% stake in JMPCL, while secured financial creditors hold the remaining 26%.

The rail infrastructure company, earlier classified as an associate rather than a controlled entity, reported Rs 54 crore in revenue from operations in FY2024-25. Full ownership of Raigarh Champa Rail Infrastructure Private Limited is expected to ensure uninterrupted coal supply logistics to the plant.

JSW Energy currently has a locked-in generation capacity of 32.1 GW, comprising 13.3 GW operational capacity, 14.2 GW under construction, and a 4.6 GW pipeline. The company is targeting 30 GW of generation capacity and 40 GWh of energy storage by 2030.