JSW Energy to acquire 3,600 MW thermal power plant in resolution deal
JSW Energy Limited has secured approval from creditors to acquire KSK Mahanadi Power Company Limited (KMPCL) through a resolution plan under India’s insolvency process. The company received a Letter of Intent on January 13, 2025, marking a significant expansion of its power generation portfolio.
The shares of JSW Energy Limited were trading at ₹547 up by ₹29.25 or 5.65 per cent on the NSE today at 1.45 pm
The KMPCL facility in Chhattisgarh includes 1,800 MW of operational capacity, with 95 per cent already committed under long and medium-term power purchase agreements. An additional 1,800 MW is under construction, with one 600 MW unit being 40 per cent complete and infrastructure in place for the remaining units.
This acquisition will increase JSW Energy’s total locked-in thermal generation capacity to 7.5 GW and overall locked-in generation capacity to 28.2 GW. The deal positions the company closer to its target of achieving 20 GW capacity before 2030.
The transaction remains subject to regulatory approvals from the National Company Law Tribunal and Competition Commission of India. The power plant has secured arrangements for water supply and coal transportation for its entire 3,600 MW capacity.
JSW Energy, part of the USD 24 billion JSW Group, has expanded its power generation capacity from an initial 260 MW in 2000 to 7,864 MW currently, with a diverse portfolio including thermal, wind, hydel, and solar power assets.
