JSW Energy Share Price Rises 4%; Receives LoI for KSK Mahanadi Power Resolution Plan

JSW Energy has secured a Letter of Intent for its resolution plan for the 3.6 GW KSK Mahanadi thermal power plant, adding 7.5 GW to its capacity. The deal awaits regulatory approval from NCLT and CCI, the company said in a press release on the stock exchange.

KSK Mahanadi Deal Details

JSW Energy announced receiving a Letter of Intent (LoI) for its resolution plan for the KSK Mahanadi Power Plant, a 3.6 GW thermal facility in Chhattisgarh. The plant, which includes both operational and under-construction units, is set to significantly boost JSW Energy’s generation capacity.

The deal follows approval from the Committee of Creditors and is subject to further regulatory clearances from the National Company Law Tribunal (NCLT) and the Competition Commission of India (CCI).

This acquisition will help JSW Energy in achieving its long-term goal of reaching 20 GW in power generation by 2030, while also pushing forward its commitment to a net-zero emissions target by 2050.

Recent Business Development

JSW Energy has completed the acquisition of a 125 MW renewable energy portfolio from Hetero Group through its wholly-owned subsidiary, JSW Neo Energy Limited.

The portfolio includes wind energy assets located in Andhra Pradesh and Maharashtra, which are secured by long-term power purchase agreements (PPAs) and have a blended tariff rate of ₹5.22/KWh.

The assets also boast an average remaining plant life of approximately 15 years. This transaction is valued at an enterprise valuation of ₹630 crore.

This acquisition strengthens JSW Energy’s commitment to expanding its renewable energy footprint and advancing its goal of achieving a total power generation capacity of 20 GW by 2030.

Share Price Performance

JSW Energy’s share price traded 4.3% higher at ₹540 on the NSE at 9:30 AM, breaking a recent losing streak. The stock opened at ₹527, marking a slight rise from its previous close of ₹517.75. However, despite this uptick, the share price has experienced a notable drop of approximately 19.22% from ₹641.00 on January 2, 2025, to ₹517.75 on January 13, 2025.

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