JSW Energy reported a robust 52% year-on-year increase in net generation for Q2 FY26, reaching 14.9 billion units. The company successfully added 443 MW of new capacity, bringing total installed capacity to 13.2 GW. Key strategic developments include the acquisition of GE Power India Ltd.’s boiler manufacturing business and a definitive agreement to acquire the 150 MW Tidong Hydro Power Plant. The company’s under-construction portfolio remains robust, with 12.5 GW of generation projects underway.
Financial Performance
JSW Energy saw a significant boost in its financial performance during Q2 FY26:
- Net generation increased by 52% year-on-year, reaching 14.9 billion units.
- Revenue increased by 55% to over Rs. 5,300 crores.
- EBITDA grew by 67% to Rs. 3,200 crores.
- Cash profit generation was up by 27% year-on-year, exceeding Rs. 1,500 crores.
- EBITDA for the first half of the year has already surpassed the EBITDA generated in the entire last fiscal year, standing at over Rs. 6,200 crores.
Capacity Expansion and Renewable Energy
The company has significantly expanded its capacity, adding 5.5 GW in the past twelve months, including 3.3 GW of renewables and 1.8 GW of thermal capacity.
During the quarter, 443 MW of new capacity was successfully added, bringing the total installed capacity to 13.2 GW. This includes:
- Kutehr 240 MW hydro generation project.
- Wind 148 MW.
- Solar 56 MW.
Renewables accounted for 18% of total electricity generated during the quarter, up from 15% in the same period last year.
Strategic Initiatives and Acquisitions
JSW Energy is undertaking several strategic initiatives to enhance its capabilities and support future growth:
- Acquisition of GE Power India Ltd.’s Boiler Manufacturing Business to enhance in-house capabilities.
- Acquisition of a majority stake in KSK Water Infrastructure to ensure raw water supply for the 1,800 MW KSK Mahanadi Thermal Power Plant.
- Establishing a battery assembly plant in Pune with a rated capacity of 5 GWh per annum.
- Signed a definitive agreement to acquire the 150 MW Tidong Hydro Power Plant from Statkraft.
Under-Construction Portfolio
JSW Energy has a robust under-construction portfolio of 12.5 GW of generation projects, all tied up under long-term Power Purchase Agreements.
Thermal Power Outlook
India’s total installed power generation capacity stands at 501 GW. For thermal, the current installed capacity is 245 GW. With the biddings of 15 GW of projects awarded in FY25 and approximately 35 GW of capacity under-construction, India’s total thermal capacity in FY32 should reach close to 300 GW.
Debt and CAPEX
- Net debt at the end of the September quarter stood at close to Rs. 62,000 crores.
- Total CAPEX spent in the quarter was about Rs. 3,500 crores.
Source: BSE
