JSW Energy sees strong Q2 FY26 generation, capacity growth

JSW Energy reported a robust 52% year-on-year increase in net generation for Q2 FY26, reaching 14.9 billion units, with H1 FY26 generation up 60% year-on-year to 28.4 billion units. This growth was driven by 5.5 GW of added capacity over the past twelve months, including 3.3 GW renewables and 1.8 GW thermal. Total installed capacity now stands at 13.2 GW, a 71% year-on-year increase. Revenues for the quarter rose 55% to over INR 5,300 crores, and EBITDA increased 67% to INR 3,200 crores.

The company's strategic developments include the acquisition of GE Power India Ltd.'s boiler manufacturing business and a majority stake in KSK Water Infrastructure. JSW Energy also signed a definitive agreement to acquire the 150 MW Tidong Hydro Power Plant for an enterprise valuation of INR 1,728 crore, expected to be commissioned by October 2026. Under-construction projects total 12.5 GW, all tied to long-term Power Purchase Agreements.

Despite a 17% decline in profit after tax to INR 705 crores due to higher interest and depreciation, cash profits generated were up 27% year-on-year, exceeding INR 1,500 crores. Net debt at the end of September stood at INR 62,000 crores, with CAPEX for the quarter at INR 3,500 crores.