Jindal Power

What Jindal Power does

Jindal Power Limited, founded in 2000 and headquartered in New Delhi, is the power-generation arm of the privately held BC Jindal Group. The company operates coal-based thermal power plants across India with an installed capacity of approximately 3,500 MW spread across Chhattisgarh (Tamnar), Odisha (Derang, 1,200 MW), Haryana (Jhajjar, 1,350 MW, acquired from Apraava Energy in October 2025 for ~Rs 4,000 crore), Maharashtra (Shirpur), and Andhra Pradesh (Simhapuri). The company's technology is conventional coal-fired thermal generation, supported by long-dated coal supply arrangements — most recently a May 2026 MoU with Singareni Collieries Company Limited for 8 lakh metric tonnes from the Naini mine to fuel Derang — and upstream mining interests such as the Gare Pelma project in Chhattisgarh.

The business model is straightforward utility generation: Jindal Power sells baseload electricity under long-term Power Purchase Agreements (PPAs) to state-owned distribution companies (DISCOMs) and electricity boards across Bihar, Haryana, Delhi, Noida, and Kerala, with opportunistic short-term sales to address peak demand shortfalls. Customers are exclusively government utilities, making the model contract-anchored but politically and regulatorily exposed. The company is privately held, employs 10,000+ people, and finances expansion through a mix of parent-group capital and external debt — most notably a $1 billion offshore loan facility secured in February 2026 (initial $500M tranche at SOFR+300 bps, eight-year tenor) with a consortium led by Axis Bank and ICICI Bank.

The company's strategic posture is one of aggressive M&A-led capacity expansion: the October 2025 Jhajjar acquisition was followed by Competition Commission of India approval to acquire Jaiprakash Associates in November 2025, and international expansion is now underway with a 700 MW greenfield coal-fired project and integrated coal mine at Mmamabula in Botswana. Leadership was refreshed in May 2026 with the appointment of Sanjay Bhargava (former Tata Power) as CEO of Jindal India Power Limited. Jindal Power is described as India's third-largest electricity producer and operates against a backdrop of India's 500+ GW installed power capacity.

Name

Jindal Power

Legal name

Jindal Power Limited

Website

https://jindalpower.com

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Jindal Power Limited is a privately held Indian thermal power generator and BC Jindal Group subsidiary operating 3,500+ MW of coal-fired capacity across five states. It sells baseload electricity under long-term PPAs exclusively to state-owned DISCOMs and is expanding domestically via acquisitions and internationally into Botswana.

Ownership category

akta.pro rank

Product category

Thermal Power Generation

NAICS

Fossil Fuel Electric Power Generation (221112), Electric Power Generation (22111)

SIC

Electric Services (4911), Bituminous Coal & Lignite Mining (1220)

akta.pro primary industry

Utility-Scale Power Generation Asset Management (EUAEAMAA)

Keywords

• Thermal power generation
• Coal-based power plants
• Power purchase agreements
• Baseload electricity supply
• Integrated coal mining

Headquarters

HQ city

New Delhi

HQ country

India

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Infrastructure, Operations, Personnel, Others

Revenue model

1. Power Generation and Sale: Jindal Power generates electricity through its thermal power plants and sells it under long-term Power Purchase Agreements (PPAs) to state DISCOMs and electricity boards. The company operates multiple coal-based thermal plants and generates revenue from the sale of generated power to government utilities.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels2 records

Core offering

Jindal Power generates electricity through coal-based thermal power plants with installed capacity exceeding 3,500 MW across India and sells the output to state-owned distribution companies (DISCOMs) and electricity boards under long-term Power Purchase Agreements (PPAs). The portfolio includes the 1,200 MW Derang plant in Odisha, the 1,350 MW Jhajjar plant in Haryana, and operations in Chhattisgarh, Maharashtra, and Andhra Pradesh, supported by long-term coal supply arrangements. The company is also developing a 700 MW integrated coal-fired power and mining project in Botswana as part of its international expansion.

Product overview

Jindal Power Limited operates as a thermal power generation company with a portfolio of coal-based power plants totaling over 3,500 MW of installed capacity across India. The company operates the 1,200 MW Derang plant in Odisha and has acquired the 1,350 MW Jhajjar plant in Haryana. The power generation business is supported by coal supply agreements with Singareni Collieries Company Limited. Jindal Power also holds coal mining interests through the Gare Pelma project in Chhattisgarh and is expanding internationally with the 700MW Mmamabula Energy Project in Botswana. The company supplies power to state DISCOMs across Bihar, Haryana, Delhi, and Noida through Power Purchase Agreements.

Differentiator

Problem solved

Functional benefit

Products and services

• Thermal Power Generation
• 1,200 MW Derang Thermal Power Plant Coal-based thermal power plant located at Derang in Angul district, Odisha, comprising two 600 MW units. Fuel supply is secured through a coal supply agreement with Singareni Collieries Company Limited (SCCL) for 8 lakh metric tonnes from the Naini coal mine.
• Jhajjar Power Project 1,350 MW thermal power project located in Haryana, acquired from Apraava Energy for approximately Rs 4,000 crore. Acquired through wholly-owned subsidiary Jindal Jhajjar Power Limited, which received CCI approval for the acquisition of 100% shareholding.
• Mmamabula Energy Project Greenfield 700 MW coal-fired power plant with integrated coal mine in Botswana, funded through a USD 1 billion offshore loan package (initial $500 million tranche at SOFR+300 bps). One of the most significant thermal power project financings in Botswana.
• Gare Pelma Coal Project 3,020-hectare open-cast coal mine project in Raigarh district, Chhattisgarh with proposed capacity of 15 million tonnes per annum, providing forward integration into captive coal supply for Jindal Power's thermal plants. Currently on hold due to community protests.

Quantifiable outcome

• 1,200 MW operational capacity in Odisha with fuel supply secured for long-term operations
• +1 more outcomes

Named customers5 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• Singareni Collieries Company Limited (SCCL)coreStrategic or Co-development Partner · 25 May 2026Jindal India Power Limited signed an MoU with SCCL for procurement of 8 lakh metric tonnes of coal from the Naini coal mine to support its 1,200 MW thermal power plant at Derang in Odisha. SCCL is jointly owned by the Governments of Telangana and India. The agreement aims to strengthen long-term fuel security and improve operational efficiency.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Regional players

• CESC Limited: RP-Sanjiv Goenka Group integrated power utility with thermal generation and licensed distribution; comparable in operating model though more regional and integrated downstream.

Broad incumbents

• NTPC Limited: India's largest power generator (public sector) operating across thermal, hydro, nuclear and renewables; comparable as a massive incumbent in the same generation space, though state-owned and far larger than Jindal Power.
• NHPC Limited: Largest Indian hydro power generator and a public-sector incumbent; relevant as a comparable Indian IPP pursuing capacity additions, though primarily hydro rather than coal.

Direct peers

• Adani Power: India's largest private thermal power producer operating multi-GW coal-fired plants under PPAs with state utilities; comparable in scale, fuel mix, and customer base to Jindal Power's thermal IPP model.
• GMR Energy: Private Indian power generation group with coal-thermal and gas assets selling under PPAs; comparable in scale and customer type to Jindal Power, also pursuing capacity expansion and corporate restructuring.
• JSW Energy: Diversified Indian private IPP with thermal and renewable assets selling power under long-term PPAs; closely matches Jindal Power's mix of operational thermal plants and growth-via-acquisition strategy.
• Tata Power Company: India's largest private-sector integrated power utility with substantial coal-thermal generation alongside renewables; directly comparable as a multi-GW Indian IPP with state DISCOM off-take and similar fuel security strategies.
• Torrent Power: Integrated private power company with coal-based thermal generation, transmission and distribution; comparable as a private Indian IPP pursuing PPA-driven growth and competing for the same state DISCOM off-takers.
• Reliance Power: Private-sector Indian IPP focused on coal-fired thermal generation with PPA-based off-take; comparable business model and end-markets, though with a different sponsor.

Emerging players

• Sembcorp Energy India: India subsidiary of Singapore-based Sembcorp Industries operating thermal and renewable IPP assets under PPAs; comparable as a foreign-affiliated IPP scaling capacity in India's private power market.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/jsplcorporate
• LinkedInlinkedin.com/company/jindal-power-limited
• Facebookfacebook.com/JSPLCorporate

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Jindal Power