Synopsis: Shares rose following a ₹1,728 crore acquisition of a 150 MW hydropower project, supporting a 30 GW renewable and 40 GWh storage target by 2030. Strong Q1FY26 growth, a 13 GW pipeline, energy storage projects, and green initiatives underscore robust expansion and clean energy leadership.
The shares of the prominent renewable energy company gained up to 3 percent in today’s trading session after the company’s subsidiary signed a definitive agreement to acquire Tidong Power Generation Private Limited, worth Rs 1,728 crore.
With a market capitalization of Rs 95,602.93 crore, the shares of JSW Energy Ltd were trading at Rs 547.00 per share, increasing around 1.73 percent as compared to the previous closing price of Rs 537.70 apiece.
Signification Acquisition
The shares of JSW Energy Ltd have seen bullish movement after JSW Neo Energy, a subsidiary of the company, signed a definitive agreement with Statkraft IH Holding AS to acquire 100 percent equity shares of Tidong Power Generation (TPGPL), which has a 150 MW under-construction hydropower project, for Rs 1,728 crore. After the acquisition, TPGPL will become a subsidiary of JSW Neo Energy and a step-down subsidiary of the company.
Additionally, the company aims to achieve 30 GW of generation and 40 GWh storage capacity by FY2030, targeting 70% of energy from renewables. Acquiring the hydro asset through its subsidiary supports this strategy, strengthening its renewable portfolio and accelerating progress toward its ambitious clean energy growth objectives over the next five years.
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Financial & Operational Highlights
The company delivered strong financial growth in Q1FY26, with revenue rising 79 percent to ₹5,143 crore and net profit increasing 57 percent to ₹836 crore. This robust performance highlights improved operational efficiency, strong demand, and effective cost management, signaling a positive outlook for continued growth in the coming quarters.
The company maintains a strong project pipeline with 13 GW under construction, fully secured under long-term PPAs. Recent additions include 605 MW RE, 350 MW FDRE, 100 MW solar, and 100 MWh BESS. Thermal projects like Salboni (1.6 GW) and KSK Mahanadi expansion are progressing on schedule. Two wind blade plants in FY26 aim to enhance supply chain efficiency and logistics.
The company is advancing in energy storage and green initiatives, with 29.4 GWh locked-in (PSP + BESS) and recent agreements adding 12 GWh PSP and 1.2 GWh BESS. A 5 GWh battery assembly plant in Pune aims to mitigate import risks. Wind technology licensing with SANY and a 3,800 TPA green hydrogen plant enhance localization, efficiency, and high IRR potential.
JSW Energy targets 30.3 GW locked-in generation capacity by 2030, nearly tripling its size. Currently, 25.8 GW is either installed or under construction, led by solar, thermal, and wind. The company plans to sustain 20% CAGR of future projects supporting India’s clean energy transition while capitalizing on growth pipeline opportunities.
Written by Abhishek Singh
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