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JSW Energy signs PPA for 1,600 MW project in West Bengal, revives Odisha plant

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JSW Energy Limited (JSWEL) has signed a Power Purchase Agreement (PPA) with West Bengal State Electricity Distribution Company Limited (WBSEDCL) for a 1,600 MW supercritical/ultra-supercritical thermal power plant. The agreement was finalised on March 13, 2025. The plant will be a greenfield project with a capacity of 1,600 MW (2×800 MW) and will be developed within West Bengal. It will be connected to the State Transmission Utility (STU) network. The project will follow a Public-Private…

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JSW Energy secures 125 MW BESS project in Kerala

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JSW Energy has won a 125 MW/500 MWh standalone battery energy storage system (BESS) auction in Kerala.  The project, awarded by the Solar Energy Corporation of India (SECI), will be connected to the Mylatti 220 kV substation in Kasaragod. JSW Energy secured the project at a tariff of Rs 441,000 per MW per month and qualifies for viability gap funding of Rs 2.7 million per MWh or 30 per cent of the capital cost, whichever…

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ACME Solar sees growth in Q3 FY 2024-25; JSW Energy and Coal India report declines

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ACME Solar has reported strong financial growth for the third quarter of FY 2024-25, ending on December 31, 2024. The company’s profit after tax (PAT) surged by 152% year-on-year, reaching Rs 1.12 billion, with a PAT margin of 28%.  Total revenue for the quarter stood at Rs 4.01 billion, reflecting a 9.9% year-on-year increase and a 35.8% quarter-on-quarter growth. Earnings before interest, tax, depreciation, and amortisation (EBITDA) grew by 15.7%, reaching Rs 3.59 billion, with…

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JSW Energy fully operationalizes 700 MW Utkal thermal power plant

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JSW Energy Limited, through its wholly owned subsidiary, has commenced operations of Unit-2 (350 MW) at the Utkal thermal power plant in Odisha. Both units, with a combined capacity of 700 MW, were restored and made fully operational within two years of acquisition.  The plant operates on domestic coal but does not currently have long-term power purchase agreements.

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JSW Energy wins bid for 3,600 MW Akaltara thermal power project

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JSW Energy Limited has been declared the successful applicant for acquiring the 3,600 MW Akaltara (Nariyara) Thermal Power Project (KSK Mahanadi) and received the Letter of Intent (LoI) on January 13, 2025. Located in Nariyara, Akaltara, in the Janjgir-Champa district of Chhattisgarh, the project is partly operational, with 1,800 MW of power in use.  Electricity from the plant is supplied to distribution utilities in Andhra Pradesh, Tamil Nadu, Chhattisgarh, Gujarat, and Uttar Pradesh. The project…

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JSW Energy wins resolution plan for KSK Mahanadi Power under CIRP

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JSW Energy has been declared the successful applicant for the resolution plan of KSK Mahanadi Power Company (KMPCL) under the corporate insolvency resolution process (CIRP) and has received a letter of intent (LoI). The resolution plan was approved by the Committee of Creditors and is now awaiting regulatory approvals from the National Company Law Tribunal and the Competition Commission of India.  KMPCL owns a 3,600 MW thermal power plant in Chhattisgarh, with 1,800 MW operational…

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JSW Energy acquires renewable energy assets from Hetero Group

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JSW Energy’s subsidiary, JSW Neo Energy, has acquired 125 MW of renewable energy assets from Hetero Group for an enterprise valuation of Rs 6.3 billion.  The portfolio includes wind power projects in Andhra Pradesh and Maharashtra, with long-term power purchase agreements.  The acquisition was made through three Special Purpose Vehicles (SPVs) owned by Hetero Labs Ltd and Hetero Drugs Ltd. The portfolio has a blended tariff of Rs 5.22 per kWh and an average remaining…

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JSW Neo Energy wins 400 MW solar power project from NTPC

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JSW Energy’s wholly owned subsidiary, JSW Neo Energy, has received a letter of award (LoA) from NTPC for the development of a 400 MW ISTS-connected solar power project.  This award is part of NTPC’s competitive bidding process for 1,500 MW of ISTS-connected solar projects (NTPC-ISTS-III). With this addition, JSW Energy’s total locked-in generation capacity has increased to 19.6 GW, including 4.4 GW dedicated to solar projects.  The company currently operates 7.7 GW across thermal, hydro,…

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JSW Energy plans wind turbine blade manufacturing unit in Karnataka

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JSW Energy, led by Sajjan Jindal, is set to establish a wind turbine blade manufacturing facility in Karnataka to secure a steady supply of wind turbine generators (WTGs) for its renewable energy projects.  The plant, requiring an estimated investment of $50 million, will have the capacity to assemble 400-500 turbines annually.  The facility will be built on available land at JSW Energy’s Vijayanagar site, where the company also operates a 12.5 million tpa steel plant…

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JSW Energy wins bid for KSK Mahanadi Power with Rs 159.85 billion offer

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JSW Energy has emerged as the top bidder for KSK Mahanadi Power at an auction concluding on October 27, 2024. The Sajjan Jindal-led company offered Rs 159.85 billion to financial creditors, outbidding Adani Power, which had made a final offer of Rs 158.85 billion in the 10th round before opting out. JSW’s proposal includes a 26% equity stake for lenders and an additional Rs 1 billion for operational creditors. This acquisition marks another significant move…