JSW Energy to Achieve 20 GW Target Before 2030 Deadline
JSW Energy is expected to reach its 20 GW power capacity goal before 2030 thanks to significant investments in EV battery technology, storage, and renewable energy, as well as record yearly increases.
JSW Energy anticipates reaching the overall goal a few years before the deadline, therefore it will review its prior pledges to capacity addition.
By the end of FY25, JSW Energy had acquired two companies in as little as six months, surpassing by more than 60 percent the stated goal of 20 GW by 2030.
In FY25, it added 3.6 GW, the most it has ever added in a single year.
Sharad Mahendra, joint managing director and CEO, JSW Energy, said, “This year we will be adding more than we did last year. With the kind of capacity we are putting up, we will be achieving the 20 GW target a few years earlier than planned.”
Before 2030, a Rs 16,000-crore project with two 800 MW units would be completed.
This greenfield coal-fired power plant is expected to be put into service over the course of the next four years after the West Bengal Power Development Corporation held a competitive bidding process.
JSW Energy had set aside Rs 115,000 crore in 2024 as a capital investment to increase to 20 GW by the end of the decade. According to the statement, Rs 16,000–17,000 crore has already been invested.
The company is concentrating on power storage systems in addition to electricity generation. It has a 12 GWh pumped hydro storage project and 1.8 GWh battery energy storage devices in various stages of construction.
Production of batteries for the electric car market is another aspect of the company's battery systems goals. In 2023, JSW Group made its first step into the automotive industry by purchasing stock in MG Motor India. In addition to manufacturing batteries for JSW MG Motor India, the group intends to independently introduce its own line of electric vehicles.
Before establishing firm plans for investment, capacity, and plant site, JSW Energy is now finalizing the EV battery technology it intends to pursue, Mahendra continued.
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The largest green hydrogen project in the nation will be put into service by JSW Energy this quarter. For JSW Steel, a plant in Karnataka will be put into service that will produce 3800 tonnes of green hydrogen and 30,000 tonnes of green oxygen annually.