At JSW Energy, we demonstrated a strong operational and financial performance in FY 2023, delivering on our articulated capacity growth targets of beoming a 10 GW company by FY 2025. As we continue our journey of clean energy transition and supporting national energy security, we will achieve 9.8 GW of installed generation capacity by CY 2024 and are well placed to achieve stated goals of 10 GW ahead of stated timeline of FY 2025.

Key Achievements of FY 2023
  • Achieved Leadership Band (A-) in CDP climate change rating for the second consecutive year – the highest rating in India’s power sector
  • Received prestigious “Sword of Honor” from the British Safety Council for excellence in Operational Health and Safety at Ratnagiri plant
  • Contracted for India’s largest commercial scale plant to produce Green Hydrogen for production of green steel, and also the largest commercial scale green hydrogen plant to commence construction
  • Vijayanagar and Barmer Plants won the “Best Power Generator Award 2023” organised by Council of Enviro Efficiency
  • Increased installed generation capacity by 44% from 4,559 MW in FY 2022 to 6,564 MW in FY 2023, driven by Mytrah acquisition (1,753 MW) and organic renewable capacity additions (252 MW)
  • Net Generation at 21.9 BUs, higher by 5% YoY driven by higher thermal PLFs and renewable energy capacity addition
  • Reported 2nd highest-ever adjusted EBITDA of ₹ 3,817 crore, up 8% YoY; and adjusted PAT at ₹ 1,358 crore, up 15% YoY
  • Cash PAT of ₹ 2,570 crore, up 7% YoY, in line with EBITDA growth
  • Dividend of ₹ 2 per share recommended by the Board
  • Completed acquisition of Mytrah Energy’s renewable assets with 1,753 MW installed capacity at an enterprise value of ₹10,150 crore (net of working capital adjustment). This is the largest acquisition made by the Company since its inception
  • Completed acquisition of Ind-Barath 700 MW under construction thermal power plant at ₹1,048 crore, to be commissioned by FY 2024
  • Unveiled ‘Strategy 2.0’ to reach 20 GW generation capacity along with 40 GWh / 5 GW of energy storage capacity. In our pursuit to transition towards energy products and services company, We are setting up 1 GW of solar PV module manufacturing by April 2025
  • Integrating backward in value chain with solar module manufacturing with capacity of 1 GW and forward integrating into producing Green Hydrogen with India’s largest commercial scale green hydrogen project with capacity of 3,800 TPA for production of Green steel
  • Won bids for 3.4 GWh storage projects comprising battery energy storage bid from Solar Energy Corporation of India; and Hydro Pumped Storage Project from Power Company of Karnataka for procurement of 2.4 GWh for a period of 40 years