JSW Energy aims to be among top 2-3 private sector players by scaling up capacity to 30 GW

JSW Energy is aiming to be among the top two-three private sector power producers in India by expanding its installed capacity to around 30 GW through organic route.

The company, a part of the diversified JSW Group, will also keep evaluating acquisition opportunities where its benchmark returns are protected and asset quality is good, according to its Joint Managing Director & CEO Sharad Mahendra.

This fiscal, the fresh capacity addition for the company is expected to be significantly more than 3.6 GW.

“We are currently at 12.2 GW of operational capacity. We are commissioning our greenfield hydro plant of 240 MW in this quarter. More of our greenfield projects will get commissioned now. So, in FY26 we will be adding more than 3.6 GW, which we added in FY25 through organic and inorganic routes,” Mahendra told businessline.

JSW Energy is currently the country’s fourth largest private sector power producer. The company is looking at increasing its installed capacity to around 30 GW over the next few years through the organic route. “For the additional 18 GW capacity, which we will be adding, thermal power will be around 3.2 GW, while the rest will all be in renewable energy,” Mahendra informed.

The power producer is likely to have two-third of its installed capacity in renewable power and one-third in thermal power by this fiscal-end.

The company is setting up a 1600 MW thermal power plant at West Bengal’s Salboni, entailing an investment of ₹16,000 crore. Chief Minister Mamata Banerjee will lay the foundation stone for the project on Monday.

“This is the largest greenfield project that JSW Energy is doing in terms of capacity and investment. We are putting up 2X800 ultra-supercritical units. The first unit will be commissioned within 48 months as per the PPA,” the CEO informed.

The company signed a 25-year power purchase agreement (PPA) with the West Bengal State Electricity Distribution Company (WBSEDCL) for the project.

Notably, Sajjan Jindal, Chairman of JSW Group, had announced the group’s plan for setting up the power plant in Bengal during the State’s flagship industry event Bengal Global Business Summit (BGBS) in February.

JSW Energy is currently working on its new Vision 3.0 to revise its earlier target of 20 GW installed capacity by FY30. The new vision document, likely to be unveiled in the next two-three months, will outline a higher capacity target and required investment.

In 2023, the company had announced to invest around ₹1.15 lakh crore to reach 20 GW of installed capacity by FY30. “We will revise the capacity target upward in our Vision 3.0 for FY30, and accordingly revised investment numbers will be announced. The investment will be higher. Out of that around ₹16,000-18,000 crore has already been invested,” Mahendra said.

For its own captive requirement, the company is going to start manufacturing some of the key components such as wind turbine blades. For the manufacturing of wind blades, it is setting up two plants–one in Karnataka and another one in Gujarat.

“We have got the technology from one of the leading suppliers and manufacturers of wind blades. We already signed the technology license agreement. Production is going to start very soon. It has a very big cost advantage,” Mahendra added.

In April last year, JSW Energy announced that it had raised ₹5000 crore through Qualified Institutions Placement (QIP).

Published on April 20, 2025