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JSW Energy secures LoI for KSK Mahanadi
Jan-14-2025

JSW Energy has been declared successful applicant and has received letter of intent (LoI) from the Resolution Professional for its resolution plan submitted for KSK Mahanadi Power Company (KMPCL) under the corporate insolvency resolution process of the Insolvency and Bankruptcy Code, 2016. This follows the approval by the Committee of Creditors, with the closure of the transaction subject to the necessary regulatory approvals from the National Company Law Tribunal and the Competition Commission of India.

KMPCL owns a 3,600 MW thermal power plant, utilising domestic coal and located in the state of Chhattisgarh. Presently, 1,800 MW (600 MW x 3 units) is operational which is 95% tied-up under long & medium-term power purchase agreements. An additional 1,800 MW (600 MW x 3 units) is under-construction out of which one unit (600 MW) is 40% completed and balance of plant is in place for remaining 1,200 MW. The plant has a firm arrangement for water and coal transportation for the entire 3,600 MW.

Subsequent to this, the company's total locked-in thermal generation capacity stands at 7.5 GW and total locked-in generation capacity stands at 28.2 GW. This positions JSW Energy to achieve its target of 20 GW significantly before 2030 and is committed to a net zero target by 2050.

JSW Energy, part of the JSW Group, is a growing energy company. The Group has diversified interests in carbon steel, power, mining, industrial gases, port facilities, aluminium, cement and information technology.


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