JSW Energy plans to spend ₹1.15 lakh crore to diversify its operations from power generation to energy products and services. This shift was announced by group chairman and managing director Sajjan Jindal at the company’s annual general meeting. By 2030, JSW Energy aims to reach a generation capacity of 20 gigawatts (GW) and a storage capacity of 40 gigawatt-hours (GWh).
This new capex plan is a significant increase from the previously committed ₹85,000 crore. For this fiscal year, the company plans to invest ₹15,000 crore. Jindal stated that JSW Energy is expanding its portfolio to include generation, storage, and green hydrogen, which broadens its market.
As part of its strategy, JSW Energy is exploring new energy solutions like firm and dispatchable renewable energy (FDRE), battery storage systems, pumped storage projects, equipment manufacturing, and green hydrogen.
Currently, JSW Energy has an installed capacity of about 7.3 GW across thermal, hydro, solar, and wind. It has also won bids to build 4 GW renewable projects, increasing its locked-in generation capacity to 13.9 GW. Additionally, it has secured energy storage projects of 3.4 GWh that are under development. With 2.6 GW of projects under construction, JSW Energy is on track to meet its 10 GW capacity target by FY2025. The company is also entering equipment manufacturing to reduce supply chain risks.
