JSW Energy Limited has successfully completed the acquisition of 100% of the equity share capital of Maruti Clean Coal & Power Limited (MCCPL). Following the completion of the transaction, MCCPL has become a wholly owned subsidiary of the company.
MCCPL owns and operates a 300 MW thermal power plant at Korba, Chhattisgarh. The plant has a longterm Power Purchase Agreement (PPA) of 195 MW (net) with Rajasthan discoms, routed through PTC India, with a residual PPA life of ~14 years. In addition, the plant provides 5% power at variable cost to the Chhattisgarh discom, while the balance ~64 MW capacity is sold in the merchant market. Coal is secured through a long-term Fuel Supply Agreement with SECL, and linkage under the SHAKTI scheme.
The transaction values MCCPL at an Enterprise Value of ₹1,410 crore. The acquired asset’s FY26 EBITDA stood at ~₹279 crore. The asset is EBITDA and PAT-accretive from day one, while also reducing the Company’s net leverage and strengthening overall balance sheet resilience. With this acquisition, the Company’s total Installed capacity stands at 14,835 MW.
Commenting on the development, Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, said, “”The completion of the MCCPL acquisition reinforces our commitment to disciplined growth and value-accretive opportunities. The asset complements our existing generation portfolio and enhances our ability to deliver dependable power while supporting India’s growing energy needs. Beyond the immediate financial benefits, we see further upside from optimisation of logistics and O&M costs, with the plant’s proximity to our Mahanadi facility unlocking operational synergies and strengthening our regional thermal footprint. We are delighted to welcome the MCCPL team into the JSW Energy family”
JSW Energy currently operates an installed thermal capacity of 5,958 MW, with a further 3,800 MW under construction at its Salboni and Mahanadi Thermal Power Plants, and a pipeline of 1,200 MW for brownfield expansion at Mahanadi.
JSW Energy has a current total locked-in generation capacity of 32.4 GW, comprising 14.8 GW operational and 13.6 GW under construction across thermal, hydro, and renewables, with a pipeline of 4 GW. The company also has 29.6 GWh of locked-in energy storage capacity, comprising pumped hydro storage of 26.4 GWh and battery energy storage systems of 3.2 GWh. The company aims to reach 30 GW of generation capacity and 40 GWh of energy storage capacity by 2030, and to achieve carbon neutrality by 2050.
For the transaction, Khaitan & Co acted as legal advisor, BDO India carried out financial and tax due diligence, and Roots Legal conducted land due diligence for JSW Energy.
