JSW Energy announced on Wednesday that it has received a letter of award (LoA) from the West Bengal State Electricity Distribution Company Limited (WBSEDCL) for the development and operation of a 1,600 MW thermal power plant (TPP). According to a regulatory filing, the awarded plant will consist of two units of 800 MW each and will be based on super/ultra-supercritical technology utilizing domestic coal allocated to West Bengal under the SHAKTI B (iv) policy. This award is part of WBSEDCL’s competitive bidding process.
With this latest capacity addition, JSW Energy has crossed a significant milestone of 30 GW in total locked-in generation capacity, with 9 GW of that being thermal power. The company expressed confidence that it is well-positioned to meet its target of 20 GW total generation capacity ahead of its 2030 goal.
In January, JSW Energy reported a 27% decline in net profit for Q3 FY24, which stood at Rs 168 crore, compared to Rs 231 crore in Q3 FY23. The company’s quarterly revenue was Rs 2,439 crore, a decrease of 4.1% from the previous year’s Rs 2,543 crore.
JSW Energy also announced plans to raise up to Rs 3,000 crore in long-term funds through the issuance of rated and listed non-convertible debentures via private placement. A key player in India’s private power sector, JSW Energy is part of the $23 billion
JSW Group, which has a presence in industries such as steel, energy, infrastructure, cement, and sports. Established in 2000, JSW Energy began with its first thermal plants in Karnataka and has grown its capacity to 7,189 MW across thermal, wind, hydro, and solar power sectors. The company is currently working on several projects totaling 2.6 GW, with a clear vision of reaching 20 GW of generation capacity by 2030.
