JSW Energy is set to reassess its previous commitments regarding capacity expansions, as the company anticipates achieving its overall goal ahead of schedule. Following two significant acquisitions in a short span of six months, JSW Energy is on track to meet over 60% of its ambitious target of 20 GW by 2030 by the end of FY25. The company has reported an impressive addition of 3.6 GW in FY25, marking its highest annual growth to date.

Accelerating Towards Capacity Goals

Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, expressed optimism about the company’s growth trajectory. He stated, “This year, our additions will surpass last year’s figures. With our current capacity expansions, we are likely to reach our 20 GW target well ahead of the initial timeline.”

When inquired about potential revisions to the 2030 target, Mahendra revealed, “We will disclose our updated goals during the Strategy 3.0 announcement, expected at the end of Q1 or Q2 of FY26.”

Major Projects on the Horizon

JSW Energy is undertaking a substantial ₹16,000 crore project that involves constructing two units, each with a capacity of 800 MW, which is set to be operational before 2030. This project is part of a competitive bidding process managed by the West Bengal Power Development Corporation, and is expected to be completed within the next four years.

In 2024, the company allocated a considerable capital expenditure of ₹115,000 crore aimed at expanding its capacity to 20 GW by the end of the decade. So far, around ₹16,000-17,000 crore has already been invested in this initiative.

Diversifying Energy Solutions

Beyond power generation, JSW Energy is also focusing on energy storage solutions. The company is developing a pumped hydro storage project with a capacity of 12 GWh, alongside 1.8 GWh of battery energy storage systems across various projects.

“A number of states have initiated bids for solar and energy storage solutions. We have successfully participated in several and won bids for pumped storage, which is critical for longer durations of 6-8 hours where batteries are less viable. Our winning bid represents a significant capacity of 1500 MW for an 8-hour discharge,” added Mahendra.

Entering the Electric Vehicle Market

JSW Group ventured into the electric vehicle (EV) sector in 2023 by acquiring a stake in MG Motor India. In addition to supplying batteries for MG, the group is planning to launch its own EV products. Mahendra shared, “We are currently finalizing the EV battery technology to determine our future investments, capacity, and plant locations.”

Advancements in Green Hydrogen

In an exciting development, JSW Energy is on track to launch the country’s largest green hydrogen project this quarter. Located in Karnataka, this plant will produce 3,800 tonnes of green hydrogen and 30,000 tonnes of green oxygen annually for JSW Steel.

Outlook on Power Demand

The demand for electricity in India grew by 4.7% in FY25, a slower rate compared to the previous two years. Mahendra anticipates that this year’s demand growth will outpace last year’s figures. “Even with a conservative estimate of 5-6%, the energy consumption is substantial, considering India utilized nearly 1,700 billion units last year,” he concluded.

With its robust plans and diverse energy initiatives, JSW Energy is poised to make significant strides in the renewable energy sector while adapting to the evolving demands of the market.