Aligned with India's Net Zero emissions target
Partnering in India's journey towards clean energy
At JSW Energy Limited (JSWEL), we are amongst India's leading independent power producers and a part of the USD 25 billion JSW Group. As India leads major economies in renewable energy capacity addition, we support the nation's energy ambitions through a fully integrated portfolio, spanning across power generation and energy storage. As part of our power generation business, we own and operate power plants in 14 states in India and have a presence across all modes of power generation, namely, thermal, hydro, wind and solar, with a total operational capacity of 13,454 MW as of March 31, 2026.
Our 13,454 MW of total installed capacity includes 5,658 MW of thermal energy, 3,656 MW of wind energy, 1,631 MW of hydro energy, 2,058 MW of solar energy and 451 MW of hybrid renewable energy as of March 31, 2026. In addition, we are also in the process of constructing power plants with a cumulative generation capacity of 14,048 MW, consisting of 2,353 MW of wind energy, 3,547 MW of solar energy, 4,798 MW of renewable hybrid power projects, 150 MW of hydro energy and 3,200 MW of thermal energy projects.
We aim to transition from a pure play power generation company to a company providing energy products and services. With 4,561 MW of power projects in pipeline as of March 31, 2026 our total locked-in generation capacity is 32,062 megawatts (“MW”), along with 29.6 GWh of locked-in energy storage capacity. As reliable baseload power becomes increasingly imperative, we are further strengthening our thermal portfolio with 3.2 GW under construction at Salboni and 1.8 GW under development at JSW Mahanadi.
Break-up of Generation Capacity (MW)
| Solar | Wind | Hybrid | Hydro | Total RE | Thermal | Total | |
|---|---|---|---|---|---|---|---|
| Operational capacity | 2,058 | 3,656 | 451 | 1,631 | 7,796 | 5,658 | 13,454 |
| Under construction capacity | 3,547 | 2,353 | 4,798 | 150 | 10,848 | 3,200 | 14,048 |
| Pipeline | 900 | - | 1,861 | - | 2,761 | 1,800 | 4,561 |
| Total | 6,505 | 6,009 | 7,110 | 1,781 | 21,405 | 10,658 | 32,062 |
Securing energy today. Achieving Net Zero tomorrow.
Aligned with India's energy security and low carbon goals, we are enabling the shift to clean energy and greater efficiency. As we contribute to the changing energy matrix, we are working towards the target of becoming a Net Zero company by 2050, well-supported by the growing portfolio of renewable energy and with strong focus on sustainable energy products and services. We also recognise the vital role played by thermal energy in ensuring energy security and reliable baseload power. As we accelerate clean energy, we also remain committed to responsible thermal development to maintain grid resilience and meet the nation's evolving needs.
Pathways to Green Energy
Our growth strategy is anchored in India's ambition for carbon neutrality. As of March 2026, we have an installed generation capacity of 13.45 GW. By 2030, we are targeting 30 GW of total generation capacity and 40 GWh of energy storage, with approximately 70% of our portfolio in clean energy. This expansion will be led by renewables, complemented by a calibrated thermal baseload that ensures grid reliability through the transition. We remain committed to making clean energy increasingly accessible to India, even as we fulfil our responsibility to energy security today.
Key Strengths
We believe we are well positioned to capitalise on growth opportunities in the Indian power sector, with our key strengths:
- A diversified generation portfolio across thermal, hydro, and renewables, ensuring stability and growth
- Strong project execution and capital allocation track record
- Growing leadership in energy storage and future-ready solutions
Robust growth momentum since Strategy 1.0
HEALTHY CAPACITY ADDITION
HIGHEST-EVER EBITDA
HIGHEST-EVER PAT
Our Purpose
Powered by our six strategic pillars, and with a vision to strengthen India's energy security, we continue to move forward on our key objective of supporting India in its endeavour to achieve energy security and clean energy leadership on the global stage. Our vision is to be strategically positioned as India's leading power company with presence across generation and energy products & services. This aligns with our focus on leveraging our ESG practices and our inclusive growth strategy for creating and delivering value to all our stakeholders.
Mission
Providing reliable, affordable and sustainable power
Vision
To be a leading integrated power company with presence across the value chain
Our Values
Commitment
Staying true and delivering what we promise both internally and externally. Consistently striving to ensure results. Being honest and transparent in all our conduct and disclosures. Being responsive to the needs of our stakeholders. Going by the letter and the spirit of the law.
Courage
Dreaming big and challenging status quo. Setting high goals for ourselves with confidence and conviction. Trying innovative methods or solutions.
Collaboration
Working together with mutual trust & openness, to forge the path to success for a shared purpose.
Agility
Acceptance & managing changes and uncertainty with speed. Openness to learn and adapt.
Compassion
Caring and being considerate about the impact of our actions on our people, environment and society. Promoting well-being of all, at and beyond work.
Diversified Asset Portfolio
Presence across the value chain
Capacity Breakdown (As on March 31, 2026)
Power Generation
Locked-in
Installed
Energy Storage
of locked-in capacity
Energy Products
& Services
Green Hydrogen and equipment manufacturing
Green hydrogen and derivatives 3,800 tpa Green H2 and 30,000 TPA of Green O2
Wind turbine and blade manufacturing Technology licensing agreement with SANY Renewable Energy
Battery Container Assembly Plant 5 GWh container plant operationalised at Pune
Acquisition of boiler manufacturing business from GE Power [underway]
Locked-in Capacity Break-up (March 31, 2026)
Path to 30 GW power generation by 2030
Through our 'Strategy 3.0', we aim to achieve 30.0 GW of generation capacity along with 40.0 GWh of energy storage capacity by 2030.
Driving leadership to advance India’s quest for Energy Security
Projected growth in Installed Capacity by 2030
Having surpassed 13.45 GW of installed generation capacity in FY 2026, we are on a clear trajectory to 30 GW by 2030 - alongside 40 GWh of energy storage capacity. This scale-up reflects a deliberate portfolio balance: accelerating renewable energy growth, while making responsible investments in thermal power to provide the baseload stability that India’s grid demands.
As India’s energy needs grow in scale and complexity, we believe energy security is best served not by a singular bet on one source, but by an integrated strategy that pairs clean energy ambition with grid reliability. That is the foundation on which we are building our next phase of growth.
Generation capacity – 30 GW by 2030
Generation Capacity Roadmap: Scaling to 30 GW by 2030
Powering Strategy 3.0: Our Trajectory to 30 GW
Orchestrating excellence across the value chain
Locked in Power Generation
Energy Storage
Energy Products
Wind turbine blade manufacturing with technology licensing agreement with SANY
A structured framework and strategic pathway to decarbonisation
At JSW Energy, we have pledged towards various climate-related initiatives such as Paris Agreement, 1.5° pathway, Global Framework for Decarbonising Heavy Industry, Responsible Energy Initiative India. Our commitment towards SBTi, as accepted by the UN ENERGY COMPACT, depicts a robust understanding of Net-Zero, to be achieved through inclusive and transparent disclosures.
Towards Net-Zero by 2050
Accelerating the ascent to become a 30 GW Generation Company by 2030
(With incremental capacity predominantly from renewable sources having mix of Thermal and Renewables)
FY 2026
6.2 GW
At full built-up of 0.0 GW
19.6 GW
Innovative solutions powering clean energy transition
- Green Hydrogen: Tapping a significant clean energy market opportunity in India and become a front-runner in a future green hydrogen economy.
- Energy Storage (Pumped Hydro Storage and Battery Energy Storage): Targeting 40 GWh of Energy Storage by 2030, through a combination of both Pumped Hydro Storage and Battery Energy Storage.
- Energy Services and Products: Investment in green hydrogen plant and power equipment manufacturing for de-risking the supply chain.
Capital-wise approach to deliver value
Financial Capital
Financial Capital plays a crucial role in generating, deploying and accessing other forms of capital. It includes equity, reserves, debt and cashflows to sustain our operations and facilitates us in new investments and enhancing returns.
Intellectual Capital
Intellectual Capital constitutes our industry proficiency, experience, ability to innovate and adopt new technologies that help us deliver operational excellence, transition towards new-age business and become future-ready.
Manufactured Capital
Manufactured Capital includes our best-in-class power plants that help us generate and deliver power. Our plants with advanced technologies help us enhance the reliability of our supply, while managing our environmental footprint.
Renewables: ~70%
Human Capital
Human Capital encompasses our people with an innovative mindset and diverse abilities that helps us deliver on our desired goals. Our inclusive culture and practices help foster critical skillsets, leadership development, safety and the well-being of our employees.
Natural Capital
In Natural Capital, our constant focus remains on minimising our environmental footprint with responsible business practices.
Social & Relationship Capital
Our multi-stakeholder approach helps play a key role in enhancing long-term stakeholder value.
*Adjustment in Net Worth by excluding the value of shares of JSW Steel
2.6 GW capacity
added via disciplined organic execution and selective inorganic plays
Key Operational Milestones of FY 2026
FY 2026 - Highlights of the Year
Vertical integration accelerated
with commissioning of GH2 (3,800 TPA) & Battery assembly plant (5 GWh)
Strategic thermal growth
anchored via Salboni 3,200 MW PPA; supply chain de-risked via partnerships & JVs
Record EBITDA of ₹ 11,041 Crore (+81% YoY)
driven by seamless JSW Mahanadi & O2 integration, and organic RE build-out
Preferential equity allotment ₹ 3,000 Crore
to Promoter Group to accelerate growth
Key Inorganic pursuits in FY 2026
Our growth strategy is anchored in disciplined inorganic expansion through the strategic acquisition of power assets. This approach enables us to accelerate the capacity growth, enter new markets efficiently, and strengthen our portfolio with high-quality operational or near-completion assets. Our ability to successfully identify, acquire, and seamlessly integrate new assets remains our core pillar of our business model, as demonstrated by our successful material acquisitions, including Mytrah, JSW Utkal, JSW Mahanadi and O2 Power.
In FY 2026, we completed our largest acquisition to date-the 4.7 GW renewable energy platform of O2 Power Pooling Pte. Ltd., through JSW Neo Energy. This acquisition has added a portfolio of high-quality assets across resource-rich states, supported by a proven track record in planning and execution. The strategic acquisition was aimed at taking the Company closer to achieving the capacity target significantly before 2030. ~1.34 GW of operational portfolio of O2 Power has been acquired in April 2025, out of its full platform capacity of 4.7 GW. The asset is well integrated and the capacity in March 2026 stood at ~2 GW. Further, in FY 2026, we have also acquired a strategic Hydro portfolio of 150 MW viz. Tidong Hydro Power project, further reinforcing our standing as the largest private Hydro player in the country.
Pursuing a robust ESG and sustainability framework
We are committed to becoming carbon neutral by 2050. We plan to enhance renewable power to constitute approximately 70% of our total installed capacity by the end of 2030, enabling us to reduce our carbon emissions intensity by 50%. We are also aiming to achieve no net loss of biodiversity, maintaining zero liquid discharge in wastewater management, 100% ash utilisation from waste and to reduce water consumption per unit of energy produced up to 38% by 2030.
Our expanding domestic presence
Note: Map of India representation - scaling may not be accurate
*18 MW Rooftop distributed across various sites
Thermal Portfolio 10,658 MW
Renewable Portfolio 21,405 MW
