JSW Energy to Acquire 3,600 MW Thermal Power Plant in Debt Resolution Deal.

JSW Energy Limited has received creditors' approval to acquire KSK Mahanadi Power Company Limited (KMPCL) through a resolution plan under India’s insolvency process. The company was issued a Letter of Intent on January 13, 2025, marking a strategic step toward expanding its power generation portfolio.

Located in Chhattisgarh, the KMPCL facility includes an operational 1,800 MW capacity, with 95% of it committed under long- and medium-term power purchase agreements. An additional 1,800 MW is under construction, with one 600 MW unit 40% complete and infrastructure ready for the remaining units.

The acquisition will elevate JSW Energy's total locked-in thermal generation capacity to 7.5 GW and its overall locked-in generation capacity to 28.2 GW, advancing its goal of reaching 20 GW capacity by 2030.

The deal, however, is subject to regulatory approvals from the National Company Law Tribunal and the Competition Commission of India. The KMPCL plant has already secured essential arrangements for water supply and coal transportation for its full 3,600 MW capacity.

Part of the USD 24 billion JSW Group, JSW Energy has grown its power generation portfolio from 260 MW in 2000 to 7,864 MW today, with assets spanning thermal, wind, hydel, and solar power. This acquisition reinforces the company’s commitment to scaling its energy operations while diversifying its portfolio.

HBL