JSW Energy has successfully completed the acquisition of 100% equity share capital of Maruti Clean Coal & Power (MCCPL), making it a wholly-owned subsidiary of the company. The transaction was finalized following a definitive agreement signed on June 13, 2026, with sellers Kolahai Infotech Private Limited and SFI Parcel Services Private Limited. As reported by Business Standard, this strategic acquisition adds significant thermal power capacity to JSW Energy's portfolio, with the company disclosing the completion under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Legal advisor Khaitan & Co, financial and tax due diligence by BDO India, and land due diligence by Roots Legal supported the transaction. Mr. Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, stated that the acquisition reinforces the company's commitment to disciplined growth and value-accretive opportunities, noting that the asset complements the existing generation portfolio and enhances the ability to deliver dependable power.
The acquired company owns and operates a 300 MW thermal power plant located at Korba, Chhattisgarh. The plant operates under a long-term Power Purchase Agreement (PPA) of 195 MW (net) with Rajasthan distribution companies, routed through PTC India, with a residual PPA life of approximately 14 years. The facility also provides 5% power at variable cost to the Chhattisgarh distribution company, while the remaining 64 MW capacity is sold in the merchant market. Coal supply is secured through a long-term Fuel Supply Agreement with Singareni Collieries Company Limited (SECL) under the SHAKTI scheme, with the proximity to JSW Energy's existing Mahanadi facility expected to unlock operational synergies through optimized logistics and O&M costs.
The transaction values MCCPL at an Enterprise Value of ₹1,410 crore, representing an attractive enterprise multiple of ~5.1x EV/EBITDA. The asset's FY26 EBITDA stood at approximately ₹279 crore, offering a yield that supports immediate profitability accretion. The acquired asset is described as EBITDA and PAT-accretive from day one, while also reducing the company's net leverage and strengthening overall balance sheet resilience. With this addition, JSW Energy's total locked-in generation capacity stands at 32.4 GW, comprising 14.8 GW operational and 13.6 GW under construction across thermal, hydro, and renewable segments.
With this acquisition, JSW Energy's total installed capacity now stands at 14.8 GW, significantly enhancing the company's operational footprint. The company currently operates 5,958 MW of thermal capacity, with 3,800 MW under construction at Salboni and Mahanadi Thermal Power Plants, and a pipeline of 1,200 MW for brownfield expansion at Mahanadi. Additionally, JSW Energy maintains 29.6 GWh of locked-in energy storage capacity, including 26.4 GWh of pumped hydro storage and 3.2 GWh of battery energy storage systems. The company has a pipeline of 4 GW and aims to reach 30 GW of generation capacity by 2030, while building energy storage capacity targeting 40 GWh by 2030. This acquisition provides immediate earnings accretion to support JSW Energy's massive ₹20,000 crore FY27 capital expenditure program and advances the company's green transition strategy.
