JSW Energy Targets 30 GW Power Capacity With New Investment Plan
JSW Energy Limited has provided clarifications to stock exchanges regarding the utilisation of funds approved at the company’s Extraordinary General Meeting (EGM) held on January 3, 2026, where shareholders approved the preferential issue of equity shares and warrants.
In response to queries from the National Stock Exchange of India (NSE), the company outlined how the proceeds from the issue will be deployed to achieve its long-term growth objectives.
Strategic Growth Targets
JSW Energy aims to build a strong presence across the entire power sector value chain with a target of achieving:
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30 GW of cumulative generation capacity, and
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40 GWh / 5 GW of energy storage capacity by 2030.
Utilisation of Funds by Subsidiaries
The funds raised will be utilised through the following subsidiaries:
1. JSW Neo Energy Limited
For renewable power generation and energy storage projects, including pumped storage and battery energy storage systems, covering project development costs, asset acquisition, capital expenditure and working capital.
2. JSW Thermal Energy Limited
For its 1600 MW thermal power project in Salboni, West Bengal, including preliminary development costs, early-stage capital expenditure and project-level equity contributions.
3. JSW Energy (Utkal) Limited
For capacity expansion of its thermal power plant in Jharsuguda, Odisha, focusing on generating and supplying electricity from domestic coal to deliver reliable and dispatchable power.
Use of Proceeds from Warrants
The company confirmed that proceeds from the warrants will be utilised within one year from the date of receipt of funds, in line with the objectives stated in the EGM notice. Upon full exercise and conversion of warrants into equity shares, the net proceeds will be deployed toward the approved business purposes.
JSW Energy stated that these initiatives will support its long-term strategy of strengthening energy security and expanding its renewable and conventional power portfolio.