JSW Energy has entered into a definitive agreement to acquire an additional equity stake in Toshiba JSW Power Systems Private Limited (TJPS) for ₹150 crore. This strategic investment increases the company’s shareholding to 20.7% on a non-diluted basis. By deepening its partnership with Toshiba, JSW Energy aims to secure its supply chain for critical thermal power equipment as part of its ambitious plan to reach 30 GW of generation capacity by 2030.
Strengthening Thermal Supply Chains
In a move to de-risk its thermal power supply chain, JSW Energy Limited has executed an agreement for a secondary purchase of equity shares in TJPS. This investment is valued at ₹150 crore. With this acquisition, the company’s stake in the joint venture will rise from 4.6% to 20.7% on a non-diluted basis and from 2.4% to 10.7% on a fully diluted basis.
Strategic Rationale and Growth Targets
TJPS operates a state-of-the-art manufacturing facility in Chennai, specialized in producing large-scale supercritical and ultra-supercritical steam turbine generators of up to 1,000 MW. JSW Energy has already placed orders for 1,600 MW of these units. This acquisition ensures better visibility and access to essential equipment, supporting the company’s goal to increase its current thermal capacity of 5,658 MW to 10,658 MW by 2030.
Transaction Details
The acquisition, which is expected to be completed on or before June 15, 2026, involves an cash-based transaction for approximately 34.69 crore equity shares. Commenting on the development, Mr. Sharad Mahendra, Joint Managing Director and CEO, noted that the move deepens a two-decade partnership and aligns with the company’s mission to support India’s energy reliability through a balanced and resilient generation portfolio.
Source: BSE
