JSW Energy commissions unit-1 of Odisha-based Ind-Barath Thermal Power Plant

Post the commissioning of this unit, the company?s operational capacity rises to 7,189 MW.

This will help the company to further diversify its fuel mix, geographical spread and off take arrangements, JSW Energy said in a statement.

The Ind-Barath TPP was acquired under the NCLT proceeding in Dec-2022, against the resolution plan submitted under the IBC proceedings in 2019.

The company has set a target to reach 20 GW generation capacity and 40 GWh of energy storage capacity by 2030. With a total locked-in capacity of 9.8 GW the company is well placed to achieve its near-term target of 10 GW by 2025.

In addition, the company has currently locked in 3.4 GWh of energy storage capacity by means of battery energy storage system and hydro pumped storage project.

JSW Energy is primarily engaged in the business of generation of power with principal places located at Vijayanagar (Karnataka), Ratnagiri (Maharashtra), Nandyal (Andhra Pradesh) and Salboni (West Bengal).

The company had reported a consolidated net profit of Rs 850 crore in Q2 FY24, which is higher by 83% as compared with a PAT of Rs 466 crore recorded in Q2 FY23. Total revenue increased by 30% YoY to Rs 3,387 crore in the second quarter.

The scrip fell 1.62% to currently trade at Rs 475.65 on the BSE.

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