JSW Energy Completes 300 MW Maruti Clean Coal Acquisition for ₹1,410 Crore
JSW Energy has completed the acquisition of 100% equity of Maruti Clean Coal and Power Limited (MCCPL) for an Enterprise Value of ₹1,410 crore. MCCPL's 300 MW thermal power plant is now a wholly-owned subsidiary. The acquired asset is EBITDA and PAT-accretive, increasing JSW Energy's operational capacity to 14,835 MW.
The acquisition significantly increases the company's operational capacity and is expected to have immediate positive financial impacts, aligning with strategic growth objectives.
The acquisition is expected to be EBITDA and PAT-accretive from day one, reduce net leverage, and strengthen the company's balance sheet. The CEO's commentary highlights disciplined growth and value-accretive opportunities.
JSW Energy Limited has announced the successful completion of its acquisition of 100% equity shares of Maruti Clean Coal and Power Limited (MCCPL). This strategic move makes MCCPL a wholly-owned subsidiary of JSW Energy.
MCCPL owns and operates a 300 MW thermal power plant located in Korba, Chhattisgarh. The plant benefits from a long-term Power Purchase Agreement (PPA) for 195 MW (net) with Rajasthan discoms, managed through PTC India, with approximately 14 years of residual PPA life. Additionally, it supplies 5% of its power at variable cost to the Chhattisgarh discom, with the remaining capacity of around 64 MW being sold in the merchant market. Coal supply is secured through a long-term Fuel Supply Agreement with SECL and linkage under the SHAKTI scheme.
The transaction valued MCCPL at an Enterprise Value of ₹1,410 crore. The acquired asset is reported to be EBITDA and PAT-accretive from day one, contributing to a reduction in the Company’s net leverage and enhancing overall balance sheet resilience. With this acquisition, JSW Energy’s total installed capacity has increased to 14,835 MW.
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. He highlighted that the asset complements the existing generation portfolio, enhances the ability to deliver dependable power, and supports India's growing energy needs. Synergies are expected from the optimization of logistics and O&M costs, with the plant's proximity to the Mahanadi facility unlocking operational benefits. JSW Energy operates an installed thermal capacity of 5,958 MW, with an additional 3,800 MW under construction and a pipeline of 1,200 MW for brownfield expansion.
The company aims to reach 30 GW of generation capacity and 40 GWh of energy storage capacity by 2030, with a broader goal of achieving carbon neutrality by 2050. Khaitan & Co served as the legal advisor, BDO India conducted financial and tax due diligence, and Roots Legal handled land due diligence for JSW Energy.
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JSW Energy Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by JSW Energy Limited. Read the original for the full detail.