New Delhi: Sajjan Jindal-led JSW Energy has set a target of achieving 30 GW of generation capacity and 40 GWh of energy storage capacity by 2030, and plans to invest up to Rs 1.3 lakh crore on building the portfolio. During a recent earnings call with investors, Sharad Mahendra, Joint Managing Director and Chief Executive Officer (CEO), JSW Energy said that the new roadmap is being launched under the company’s Strategy 3.0.
“We’re proud to announce that we’ve surpassed our 10 GW capacity target set under Strategy 2.0 — a major milestone in our growth journey. Building on this momentum, I am happy to announce and we’re launching Strategy 3.0, our new roadmap to achieve 30 GW of generation capacity and 40 GWh of energy storage by 2030,” Mahendra told investors.
“This strategic vision of ‘30 by 30’ underscores our commitment to powering India’s energy security with scale, speed, and sustainability. To support this, we plan to invest Rs 1,30,000 crore in capital expenditure between FY26 and FY30,” said the CEO. With 11.3 MW under construction projects and a robust pipeline, JSW Energy’s locked-in capacity now stands at 30.2 GW, placing the company firmly on track to deliver the target set under Strategy 3.0, he told investors.
He said that the under-construction portfolio of 11.3 GW of generation projects are all fully tied up under long-term Power Purchase Agreements (PPAs). The under-construction portfolio includes 9.7 GW of renewable energy projects and 1.6 GW Salboni ultra-supercritical thermal power project which marks JSW Energy’s investment in greenfield thermal after more than a decade. “Beyond this we have a robust project pipeline of approximately 4.9 GW of projects where Letters of Intent or Letters of Award have been secured and PPAs are yet to be signed,’ said Mahendra.
The power generation company completed the acquisition of O2 Power on April 9. Its green energy arm, JSW Neo Energy, acquired O2 Power's 4.7 GW renewable energy platform for Rs 12,468 crore. JSW Energy also completed a "very large return-accretive" acquisition of KSK Mahanadi Power Co, which is now JSW Mahanadi, for Rs 16,084 crore after the approval of the resolution plan by the National Company. KSK Mahanadi has 3,600 MW (6 X 600 MW) of thermal power capacity and is located in Chhattisgarh.
