At A Glance

7 GW

Diversified Asset Portfolio
(55% Renewable)

4.6 GW

Installed Capacity

Thermal – 3,158 MW
Hydro and Solar – 1,401 MW

2.4 GW

Under-Construction Capacity (100% Renewable)

Delivering Consistent Value

JSW Energy is the second-largest entity in the USD 22 billion JSW Group. At JSW Energy, we are India’s leading power company, striving to deliver value to our stakeholders consistently.

Becoming a Net-Zero Company

With climate change as a challenge, we intend to transition towards becoming a predominantly renewables-based company and become a net-zero company well before 2050. We endeavour to fulfil our purpose through our values; sustainable business practices; and our six strategic pillars that are instrumental for our sustainable growth.

Our Purpose

We aim to be the leading power generation company in India driven by efficient operations and low carbon footprint. We also aim to transition from generation to a products and services company. Our purpose is to consistently deliver superior value to our shareholders while also being ecologically sensitive through our robust Environmental, Social and Governance practices and inclusive growth strategy. We aim to meet the growing demand for power in the future sustainably, keeping in mind our next generation.

Our Values











Transformation at JSW Energy

During the year, we began a transformation at JSW Energy. In pursuit of our mission to transition the world to renewable energy, we reorganised our business into grey (thermal) and green (renewable) businesses to potentially unlock value in future. We are expanding our renewables portfolio and scaling our capacity to 20 GW by 2030 with proven, best-in-class technology. The existing and upcoming renewable energy businesses will be housed under JSW Neo Energy. This will help us build and streamline Renewable portfolio to potentially unlock value for shareholders going ahead.

Enhancing Value across our Six Capitals

Financial Capital

This constitutes our equity, reserves, debt and cashflow to sustain our operations and fund growth. Our prudent capital management facilitates us in optimising allocation and enhancing returns.

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1,729 crore


4,138 crore


17,415 crore


Manufactured Capital

This includes our world-class manufacturing facilities that help us generate and deliver power to the market. Our best-in-class technologies help us enhance the reliability of our supply, while managing our environmental footprint.

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7 GW

Diversified asset portfolio

4.6 GW

Installed capacity

Intellectual Capital

This constitutes our industry proficiency, experience, ability to innovate and adopt new technologies that help us deliver operational excellence and become future-ready.

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110.65 crore

Investment towards Technological Upgradation

33.5 crore

Investment committed for Digitalisation

Human Capital

This includes our people with an innovative mindset and diverse abilities that help us deliver on our desired goals. Our inclusive culture helps foster critical skillsets and our leadership capabilities.

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Number of Employees

23,198 hours

Number of Training

Social & Relationship Capital

Our multi-stakeholder approach helps play a key role in enhancing long-term stakeholder value.

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17.17 crore

Total CSR Spend


Number of Direct
Beneficiaries Impacted

Natural Capital

Our constant focus remains on minimising our environmental footprint with responsible business practices.

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14.78 lakh cubic metres

Soil retained till date with plantation initiatives at the Hydro Plant.
(Sholtu, Himachal Pradesh)


Number of Saplings Planted

Current Portfolio Mix (including under construction)

Power Generation

7 GW

Overall Portfolio

4.6 GW

Installed Capacity

2.4 GW


Green Hydrogen

To tap significant clean energy market opportunity in India and become a front-runner in a future hydrogen economy

Energy Storage

Hydro Pumped Storage

Secured resources for 5 GW Hydro Pumped Storage projects with various states

Future Aspirations and Targets


To become a 10 GW company

Transforming to 70% Renewable


To become a 20 GW company

Transforming to 85% Renewable


Towards Net-Zero by 2050

New Growth Platforms

Green Hydrogen & its Derivatives

Hydro Pumped Storage

Battery Energy Storage

Energy Products & Services

Our Renewables-Led Growth Map

We are working on a growth roadmap, led by renewables, to become a 20 GW company by FY2030. We plan to add 15 GW till FY2030, with the incremental capacity from renewable sources. With this, we intend to capitalise on a new era of renewable power generation, and play a significant role towards India’s carbon-free future.

FY2020-30: CAGR 16% (4X)

7 GW


10 GW


20 GW


3.8# GW


6.8 GW

Renewable (Wind, Solar, Hydro)

16.8 GW

Renewable (Wind, Solar, Hydro)

3.2 GW


3.2 GW


3.2 GW


* Estimated
# Includes 2.4 GW under construction

Scaling to 20 GW by 2030 via Renewables

Strategic Reorganisation of Green and Grey

Grey Business: 3,158 MW

1,200 MW


1,080 MW


860 MW


18 MW


Green Business: 3,859 MW

Karcham Wangtoo
1,091 MW



Baspa II
300 MW


10 MW


Group Captive-JSW Steel
225 MW


733 MW


810 MW


450 MW


240 MW


Broad Corporate Structure : Post re-organisation scenario

Exploring new opportunities in emerging energy platforms

We are venturing into the emerging energy areas of green hydrogen and its derivatives, offshore wind, battery and pumped hydro storage and energy services for use in industrial and transport sectors in India. We also plan to explore opportunities to utilise green hydrogen for steel making, hydrogen mobility, ammonia, carbon capture and other industrial applications in India.

Green Hydrogen

Energy Storage (Hydro Pumped and Battery Energy)

Energy Products and Services

Year 2021-22 in Brief

Our Company has demonstrated robust operational and financial performance while undergoing a significant transition to clean energy. The Company is on track to achieve 20 GW capacity by 2030

Key Achievements of FY2022

  • Achieved Leadership Band (A-) in Climate Disclosure Project (CDP) – Highest rating in the power sector in India, the only company from India and one out of two from Asia in the power sector to achieve this feat
  • Safety recognitions by the British Safety Council for all Thermal plants including the prestigious “Sword of Honor” for the Barmer plant

Our Nationwide Presence

With our expanding presence, we aim to play a meaningful role in meeting India’s growing future demand for energy. Through an ambitious growth plan, we are reinforcing our position at the forefront of energy transition. Our renewables portfolio, which is currently at 55%, is set to grow to 70% of our total energy portfolio by 2025, and to about 85% by 2030.


1,080 MW

  • Configuration: 8 X 135 MW
  • Units operating: since 20092
  • Technology: Sub-critical pithead Lignite based TPP
  • Fuel Source: Captive Lignite mines of BLMCL1
  • Power Offtake: Long Term PPA : 100%


1,200 MW

  • Configuration: 4 X 300 MW
  • Units operating: since 20102
  • Technology: Sub-critical TPP
  • Fuel Source: Imported Thermal Coal
  • Power Offtake: Long Term PPA: 90%


18 MW

  • 1x18 MW Thermal Power Plant
  • 100% LT PPA Group
  • Captive scheme



  • Configuration: 2x130 MW and 2x300 MW
  • Units operating: since 20002
  • Technology: Sub-critical TPP
  • Fuel Source: Imported Thermal Coal & Gas
  • Power Offtake: Long Term PPA : 39%

Baspa II and Karcham Wangtoo - Himachal Pradesh

300 MW & 1,091MW 3

  • Configuration: 3x100 MW (Baspa II); 4x272.75 MW (Karcham)
  • Units operating: Baspa II since 20032 and Karcham Wangtoo since 201122
  • Technology & Fuel Source: Hydro
  • Power Offtake: Long Term (1,300 MW), Short Term (45 MW)


  • Ground based and rooftop solar power projects across various locations with captive power tie-up within JSW Group

Kutehr (Under-Construction)


  • Configuration: 3x80 MW
  • Fuel Source: Hydro Power Plant
  • PPA signed with Haryana Power Purchase Center in March 2022 for 35 years

Solar - Vijayanagar (Under-Construction)


  • Power Offtake: PPA with JSW Steel
Wind (Under-Construction)

1,993 MW

  • 810 MW, SECI IX – PPA Signed
  • 450 MW, SECI X – PPA Signed
  • 733 MW, JSW Steel – PPA Signed

(Map not to scale. For illustrative purposes only)

(1) Long term FSA with BLMCL for supply of lignite from its captive mines
(2) Denotes start of first unit in respective calendar year, TPP - Thermal Power Plant
(3) Current approved operational capacity at 1,045 MW. CEA approval received for uprating from 1,000 MW to 1,091 MW, in a phased manner.

Our 2.4 GW Under-Construction Projects