JSW Energy
JSW Energy is an Indian integrated power producer with 13.70 GW of diversified thermal, hydro, wind, and solar capacity serving state DISCOMs, government intermediaries like SECI, and corporate C&I buyers under long-term PPAs, targeting 30 GW by 2030.
- Company typePublic
- Founded1994
- HeadquartersMumbai, India
- Headcount1,001–5,000
- GTM typeB2B
- OfferingServices
What JSW Energy does
JSW Energy Limited (NSE: JSWENERGY) is a Mumbai-headquartered public-listed power generator and integrated energy solutions provider founded in 1994 as part of the JSW Group. As of May 2026, the company operates 13.70 GW of diversified generation capacity spanning thermal coal and lignite (Ratnagiri 1,200 MW, Barmer 1,080 MW, KSK Mahanadi 3,600 MW, MCCPL 300 MW), hydro (Baspa-II, Karcham Wangtoo, Kutehr, Tidong at 1,681 MW), wind (3,924 MW), and solar (2,440 MW), with renewables comprising 59% of the installed base. The portfolio is supported by 29.6 GWh of locked-in energy storage (BESS and pumped hydro), India's largest commercial green hydrogen plant at Vijayanagar (3,800 TPA), in-house wind blade manufacturing at Halol, and a vertically integrated rail, water, and lignite mining footprint acquired through IBC resolution processes.
The company monetizes primarily through long-term power purchase agreements (typically 25-year tenure) with state electricity distribution companies such as MSEDCL, UPPCL, West Bengal DISCOM, BESCOM, and SECI, alongside corporate PPAs (e.g., 180 MW with Amazon, 281 MW with AEML). Merchant power is traded on IEX, PXIL, and HPX through wholly-owned subsidiary JSW Power Trading Company Limited, and grid access is controlled via Jaigad Power Transco Limited (JV with MSETCL). Tariff structures include ₹4.98/kWh for FDRE PPAs under SECI Tranche IV, ₹5.57/kWh for hydro supply to UPPCL, and ₹2,24,000/MW/month for a 12-year BESPA with RVUN.
FY2025-26 total income reached ₹19,877.72 crore (+57% YoY), with consolidated EBITDA of ₹11,041 crore (+81% YoY) driven by the O2 Power and KSK Mahanadi acquisitions. Capital allocation in 2026 alone included a ₹4,000 crore QIP, ₹3,150 crore raised via a JSW Steel stake block deal to GQG and SBI MF, the ₹1,410 crore MCCPL acquisition, the ₹700.10 crore RCRIPL rail acquisition, and a 20.7% stake increase in Toshiba JSW Power Systems. The company has publicly committed to 30 GW of generation capacity and 40 GWh of storage by 2030, with net-zero by 2050, supported by CDP A- and FTSE4Good ESG credentials and full ISO 9001/14001/45001/50001 certification across operations.
JSW Energy firmographics
Firmographics- Name
- JSW Energy
- Legal name
- JSW Energy Limited
- Website
- https://jswenergy.in
- Company type
- Public
- Founded year
- 1994
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- JSW Energy is an Indian integrated power producer with 13.70 GW of diversified thermal, hydro, wind, and solar capacity serving state DISCOMs, government intermediaries like SECI, and corporate C&I buyers under long-term PPAs, targeting 30 GW by 2030.
- Ownership category
- akta.pro rank
JSW Energy industry classification
Industry- Product category
- Electric Utilities / Power Generation
- NAICS
- Electric Power Generation, Transmission and Distribution (2211), Wind Electric Power Generation (221115), Solar Electric Power Generation (221114), Hydroelectric Power Generation (221111), Fossil Fuel Electric Power Generation (221112), Electric Bulk Power Transmission and Control (221121)
- SIC
- Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Renewable Energy Asset O&M (Wind, Solar, Hydro, Geothermal) (EUAEAGAB)
- akta.pro secondary industries
- Renewable Energy Infrastructure (FSAAAKAG), Energy Storage Components for Renewables Manufacturing (BESS Packs, PCS, Thermal Management) (EUAMAHAI), Asset Management & Owner’s Engineering (Lifecycle Strategy, Budgeting, Technical Due Diligence) (EUAMAGAJ)
Keywords
Where JSW Energy is headquartered
LocationHeadquarters
- HQ city
- Mumbai
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
JSW Energy business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales
Revenue model
- Power Generation and Sale: Revenue generated from generation and sale of electricity through long-term PPAs with state DISCOMs, industrial consumers, and merchant sales on power exchanges. Capacity charges and energy charges form the primary revenue components.
- Power Trading: JSW Power Trading Company Limited trades power across Indian Energy Exchange (IEX), Power Exchange India Limited (PXIL), and Hindustan Power Exchange (HPX), facilitating short-term, medium-term, and surplus power transactions.
- Transmission Services: Revenue from transmission infrastructure operated by Jaigad Power Transco Limited through high-capacity 400 kV double-circuit transmission lines connecting power plants to regional grid.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | FDRE (Firm and Dispatchable Renewable Energy) PPA tariff |
| Subscription | Multi-year contract | Hydro Power PPA tariff |
| Usage-based | Annual | BESS Purchase Agreement tariff |
| Subscription | Multi-year contract | Long-term thermal PPA tariffs |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
JSW Energy product offering
Product offeringCore offering
JSW Energy is an integrated Indian power company engaged in electricity generation across thermal, hydro, wind, and solar assets with 13.70 GW operational capacity. The company operates power trading through Indian energy exchanges, transmission infrastructure via a joint venture, and is expanding into green hydrogen production, battery energy storage systems (BESS), pumped hydro storage, and in-house wind blade manufacturing to support renewable energy deployment.
Product overview
JSW Energy operates as an integrated energy solutions provider with a diversified portfolio of power generation assets and energy-related services. The company offers five interconnected business segments: Power Generation (13.70 GW operational capacity across thermal, hydro, wind, and solar), Green Hydrogen (3,800 TPA commercial production at Vijayanagar), Energy Storage Solutions (29.6 GWh locked-in BESS and pumped hydro), Equipment Manufacturing (wind blade production at Halol), and Power Trading & Transmission (via JSWPTC and JPTL JV). The portfolio spans the full energy value chain from generation to trading, supported by recent acquisitions of O2 Power (4.7 GW renewables), KSK Mahanadi (3,600 MW thermal), and strategic infrastructure including rail and water logistics companies. The company targets 30 GW generation capacity and 40 GWh storage capacity by 2030, with carbon neutrality planned by 2050.
Differentiator
Problem solved
Functional benefit
Brands
- JSW Neo Energy: Wholly-owned subsidiary focused on renewable energy development and operations
- JSW Hydro Energy
- JSW Power Trading
Products and services
- Power Generation Diversified power generation portfolio spanning thermal (coal/lignite), hydro (run-of-river and pumped storage), wind, and solar assets with 13.70 GW operational capacity targeting 30 GW by 2030. Supplies electricity to state electricity distribution companies (DISCOMs), industrial consumers, and corporate buyers under long-term power purchase agreements (PPAs).
- Green Hydrogen Renewable-powered electrolysis production of green hydrogen supporting industrial decarbonization. India's largest commercial green hydrogen plant at Vijayanagar with 3,800 TPA capacity, supplying hydrogen to JSW Steel's Direct Reduced Iron unit and other industrial off-takers.
- Energy Storage Solutions Battery Energy Storage Systems (BESS) and pumped hydro storage solutions that convert intermittent renewable energy into stable, dispatchable power. Total locked-in storage capacity of 29.6 GWh, targeting 40 GWh by 2030. Includes a 250 MW/500 MWh standalone BESS project in Rajasthan under a 12-year BESPA with RVUN.
- Equipment Manufacturing In-house wind blade manufacturing at the Halol, Gujarat facility producing 82-metre blades for 4 MW wind turbine generators. Annual production capacity of up to 450 blades supporting approximately 600 MW of wind power projects, using technology licensed from SANY Renewable Energy.
- Power Trading & Transmission Integrated power trading through JSW Power Trading Company Limited (JSWPTC) across Indian Energy Exchange (IEX), Power Exchange India Limited (PXIL), and Hindustan Power Exchange (HPX). Transmission infrastructure operated via Jaigad Power Transco Limited (JPTL) joint venture with MSETCL using high-capacity 400 kV double-circuit transmission lines connecting the Jaigad power plant to the regional grid.
Quantifiable outcome
- Record EBITDA of ₹11,041 crore in FY2025-26 with 81% YoY growth
- +3 more outcomes
Companies that use JSW Energy
Customer profileNamed customers8 records
Segments4 records
Ideal customer profiles3 records
JSW Energy technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
JSW Energy partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core.
- Power Mech Projects Limitedcore₹1,008.90 crore contract awarded for civil and structural works on BTG area of 2x800 MW thermal power project at Salboni, West Bengal. 36-month execution timeline.
- GE Power India LimitedcoreScheme of arrangement for demerger with JSW Energy involving share entitlement ratio of 10:139. Subject to NCLT approval with both companies' boards having approved it on September 18, 2025. NCLT Hyderabad Bench mandated meetings for equity shareholders and unsecured creditors on July 20, 2026.
- SANY Renewable EnergycoreTechnology licensing agreement for wind blade manufacturing. Enables production of 82-metre blades for 4 MW wind turbine generators at Halol facility.
- Toshiba JSW Power Systems Private LimitedcoreJSW Energy increased stake to 20.7% through ₹1,500 million transaction. TJPS operates Chennai-based manufacturing facility for large-sized supercritical/ultra-supercritical steam turbine generators up to 1,000 MW. JSW Energy has placed orders for 1,600 MW of ultra-supercritical turbine-generators.
- GE Renewable Energycore810 MW wind turbine procurement contract for wind power projects. Strategic equipment supply partnership for renewable capacity expansion.
- Jaigad Power Transco Limited (JPTL) - MSETCL Joint VenturecoreJoint venture with Maharashtra State Electricity Transmission Company Limited for high-capacity 400 kV double-circuit transmission lines connecting Jaigad power plant to regional grid.
- JSW Power Trading Company LimitedcoreWholly-owned subsidiary licensed by CERC for power trading across Indian exchanges. Trades from diversified generation portfolio and third-party producers. Active on IEX, PXIL, and HPX.
Scale indicators17 records
Recent moves10 records
Expansion highlights6 records
JSW Energy competitors and assessment
Company assessmentEmerging players
- Inox Wind Limited: Indian wind turbine manufacturer with both manufacturing and wind farm development operations. Comparable to JSW Energy's emerging wind equipment manufacturing ambitions and existing wind generation portfolio.
Direct peers
- Torrent Power Limited: Integrated Indian power utility with thermal, renewable, and distribution businesses in select states. Comparable to JSW Energy in diversified IPP model and Indian DISCOM customer relationships.
- NHPC Limited: India's largest hydroelectric power producer and a government-owned hydro IPP with significant operational and pipeline capacity. Comparable to JSW Energy's hydro generation business (Baspa-II, Karcham Wangtoo, Kutehr, Tidong).
- Reliance Power Limited: Indian IPP with thermal, hydro, and renewable generation assets targeting state DISCOMs under long-term PPAs. Comparable to JSW Energy in private-sector power generation and Indian utility customer base.
- Adani Power Limited: India's largest private-sector thermal power producer with significant coal-based generation capacity supplying DISCOMs and industrial customers. Comparable to JSW Energy's thermal generation portfolio and PPA-driven revenue model.
- Tata Power Company Limited: One of India's largest integrated power companies with diversified thermal, hydro, solar, wind, and transmission assets plus rooftop solar and EV charging. Direct comparable to JSW Energy given similar diversified IPP business model and Indian utility customer base.
- Adani Green Energy Limited: India's largest renewable energy company operating utility-scale solar, wind, and hybrid power projects. Directly comparable to JSW Energy's renewable generation business via JSW Neo Energy subsidiary.
Broad incumbents
- Power Grid Corporation of India Limited: India's central transmission utility operating the bulk of the interstate transmission network. Comparable to JSW Energy's transmission infrastructure exposure through the Jaigad Power Transco JV with MSETCL.
- NTPC Limited: India's largest power producer and a government-owned Maharatna with diversified thermal, hydro, solar, and nuclear capacity plus aggressive renewable expansion. Broader incumbent comparable to JSW Energy in generation scale and PPA-based business model.
- Suzlon Energy Limited: India's largest wind turbine manufacturer and wind energy solutions provider with end-to-end capabilities. Comparable to JSW Energy's wind power generation portfolio and recent entry into wind equipment manufacturing via Halol blade plant.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
JSW Energy social profiles
Digital presenceJSW Energy compliance and trust
Trust signalCompliance9 records
JSW Energy financial estimates
Financial estimateRevenue estimate
Valuation estimate
JSW Energy leadership team
Management profileNumber of profiles
Profiles5 records
JSW Energy subsidiaries and ownership
Company hierarchySubsidiaries10 records
JSW Energy funding detail
Funding detailFunding overview
Funding rounds4 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
JSW Energy M&A and investment
M&A and investmentM&A4 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about JSW Energy
What does JSW Energy do?
JSW Energy is an integrated Indian power company engaged in electricity generation across thermal, hydro, wind, and solar assets with 13.70 GW operational capacity. The company operates power trading through Indian energy exchanges, transmission infrastructure via a joint venture, and is expanding into green hydrogen production, battery energy storage systems (BESS), pumped hydro storage, and in-house wind blade manufacturing to support renewable energy deployment.
Is JSW Energy a public or private company?
JSW Energy is a public company. It is classified as public and is currently operating.
When was JSW Energy founded?
JSW Energy was founded in 1994. It employs 1,001 to 5,000 people.
Where is JSW Energy based?
JSW Energy is headquartered in Mumbai, India, in the Asia region.
How does JSW Energy make money?
Three revenue lines are on record. Power Generation and Sale is the primary driver. The others are power Trading and transmission Services.
Who are JSW Energy's main competitors?
Inox Wind Limited is listed as an emerging player. Direct peers are Torrent Power Limited, NHPC Limited, Reliance Power Limited, Adani Power Limited, Tata Power Company Limited and Adani Green Energy Limited. Broad incumbents are Power Grid Corporation of India Limited, NTPC Limited and Suzlon Energy Limited.
Does JSW Energy have an API?
No public API is recorded for JSW Energy.
What industry is JSW Energy in?
JSW Energy's product category is Electric Utilities / Power Generation. Its primary akta.pro industry code is EUAEAGAB, Renewable Energy Asset O&M (Wind, Solar, Hydro, Geothermal), with a secondary code of FSAAAKAG, Renewable Energy Infrastructure. Its NAICS code is 2211 and its SIC code is 4991.