JSW Energy announced a strong Q3 FY26 performance, highlighted by a 65% year-on-year increase in power sales, reaching 11.1 billion units. Net generation grew by 62% to 39.6 billion units for the nine-month period. The company commissioned India’s largest green hydrogen plant and secured new PPAs, bolstering its portfolio and future growth prospects. Revenue increased by 61% to ₹4,255 crores, and EBITDA rose by 98% to ₹2,202 crores.
Financial Performance Highlights
JSW Energy reported robust financial results for Q3 FY26, demonstrating significant growth across key metrics:
- Power sales surged by 65% year-on-year to 11.1 billion units.
- Net generation increased by 62% year-on-year, totaling 39.6 billion units for the nine months.
- Revenue increased by 61% to ₹4,255 crores.
- EBITDA grew by 98% to ₹2,202 crores.
Long-term PPAs accounted for 82% of total power sales, supported by a de-risking strategy.
Operational Highlights and Capacity Expansion
The company added 5.2 GW of capacity in the past twelve months, including 3.1 GW of renewables and 2.1 GW of thermal. This includes inorganic additions of 1.5 GW in renewables and 1.8 GW in thermal, strengthening the portfolio’s resilience.
During the quarter, 125 MW of new renewable capacity was added, bringing the total installed capacity to 13.3 GW, a year-on-year growth of approximately 64%.
Approximately 3.3 GW (25% of installed capacity) is secured with Group Captive and C&I customers, expected to increase to approximately 5.7 GW.
Key operational achievements:
- Full stabilization of the Kutehr plant, generating about 130 million units during the quarter.
- Commissioning of India’s largest green hydrogen plant at Vijayanagar, with a capacity of 3,800 tonnes per annum.
Securing Future Growth
JSW Energy secured a 400 MW 25-year PPA for the Utkal plant with Karnataka discoms and a 115 MW short-term PPA at Utkal with Assam discom, further reducing merchant market exposure. The company has locked in about 18.7 GW of generation capacity and 29.6 GW hour of storage.
The company is confident of exceeding its 30 GW generation target and achieving its 40 GW hour storage target by 2030. There is ₹3,000 crore preferential allotment of equity shares to the promoter group with ₹2,500 crore through warrants.
Developments Post Quarter
- Order placed for two ultra-super critical steam turbine generators of 800 MW each for Salboni Thermal Project with Toshiba JSW.
- Signed a second 1,600 MW PPA with West Bengal Discom for Salboni, increasing total capacity at the site to 3,200 MW. Secured thermal capacity now stands at 10.7 GW.
Source: BSE
