JSW Energy subsidiary secures 400 MW power supply deal in Karnataka

JSW Energy (Utkal) Limited announced it has received a letter of award from Power Company of Karnataka Limited for a 400 MW power supply arrangement. This 25-year agreement is scheduled to commence on April 1, 2026, with coal for the project sourced from Coal India Limited under the SHAKTI Scheme 2017.

Upon regulatory adoption and the signing of the Power Purchase Agreement, this arrangement will secure 57% of Utkal's total capacity, providing long-term earnings stability for the plant. JSW Energy aims to reach 30 GW generation capacity and 40 GWh of energy storage capacity by FY 2030, with a goal of achieving carbon neutrality by 2050.

The company currently has a total locked-in generation capacity of 30.5 GW, comprising 13.2 GW operational, 12.5 GW under-construction, 150 MW under-acquisition hydro, and a 4.6 GW pipeline. Additionally, JSW Energy possesses 29.4 GWh of locked-in energy storage capacity, including 26.4 GWh from hydro pumped storage projects and 3.0 GWh from battery energy storage systems.