JSW Energy to Acquire Additional Stake in Toshiba JSW Power Systems for ₹150 Crore

Mumbai: JSW Energy Limited has announced a strategic move to strengthen its thermal power supply chain by signing definitive agreements with Toshiba Corporation to acquire additional equity shares in Toshiba JSW Power Systems Private Limited (TJPS). The transaction, valued at ₹150 crore, was disclosed to stock exchanges under SEBI’s listing regulations.

Following the acquisition, JSW Energy’s shareholding in the joint venture will increase to 20.7% on a non-diluted basis and 10.7% on a fully diluted basis. The deal involves a secondary purchase of equity shares from Toshiba Corporation and is expected to be completed by 15 June 2026, subject to customary closing conditions.

TJPS, incorporated in 2008, is engaged in engineering, manufacturing and servicing supercritical steam turbines and generators used in thermal power generation. The company operates a state-of-the-art manufacturing facility in Chennai capable of producing turbine generators up to 1,000 MW capacity. The joint venture is also supported by JSW Steel Limited.

The acquisition aligns with JSW Energy’s long-term growth strategy, which targets 30 GW generation capacity and 40 GWh energy storage capacity by 2030. The company plans to expand its thermal capacity from 5,658 MW to 10,658 MW by FY2030, supported by projects under construction and brownfield expansion opportunities.

Commenting on the development, Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, said the move deepens the company’s long-standing partnership with Toshiba and strengthens equipment supply security for thermal power generation. He emphasised that supply chain reliability remains critical as the company pursues a balanced energy portfolio combining renewables with a resilient thermal foundation.

The investment is expected to enhance JSW Energy’s access to critical turbine-generator equipment, improve supply chain resilience and support cost-efficient development of future thermal power projects. The company believes the acquisition, along with its ongoing expansion initiatives, positions it strongly to support India’s growing energy demand while advancing toward its carbon-neutrality goal by 2050.