JSW Group, CC BY-SA 2.0, via Wikimedia Commons
JSW Energy Limited has completed the acquisition of Maruti Clean Coal and Power Limited, a 300 MW thermal power project in Chhattisgarh, for an enterprise value of Rs 1,410 crore. According to a BSE filing, the acquisition increases JSW Energy’s installed capacity to 14,835 MW. The acquired asset has a long-term Power Purchase Agreement with Rajasthan discoms.
The project involves the operation of a 300 MW thermal power plant at Korba, Chhattisgarh. The plant has a residual PPA life of ~14 years and provides 5% power at variable cost to the Chhattisgarh discom. Coal is secured through a long-term Fuel Supply Agreement with SECL, and linkage under the SHAKTI scheme.
Earlier, the company had signed a definitive agreement with Kolahai Infotech Private Limited and SFI Parcel Services Private Limited to acquire 100% equity shares of Maruti Clean Coal and Power Limited. The acquisition is EBITDA and PAT-accretive from day one, while also reducing the company’s net leverage and strengthening overall balance sheet resilience.
As part of the agreement, JSW Energy will optimize logistics and O&M costs, with the plant’s proximity to its Mahanadi facility unlocking operational synergies and strengthening its regional thermal footprint. The company’s total locked-in generation capacity now stands at 32.4 GW, comprising 14.8 GW operational and 13.6 GW under construction across thermal, hydro, and renewables.
The acquisition reinforces JSW Energy’s commitment to disciplined growth and value-accretive opportunities. This deal strengthens the company’s position as a leading power generator in India, with a strong portfolio of thermal, hydro, and renewable energy assets.
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