JSW Energy gains as arm synchronises 350-MW unit at Utkal thermal power plant

The company has fully revived and synchronized the entire 700 MW (2x350 MW) capacity at the Utkal Thermal Power Plant, following its acquisition under NCLT proceedings in December 2022, achieving this in approximately 24 months.

The Utkal Thermal Power Plant, which runs on domestic coal, is not currently tied to a long-term power purchase agreement. Its commissioning comes at a crucial time of high demand growth, contributing to the nation's increasing base load demand and enhancing energy security. This development will also help JSW Energy diversify its fuel mix, geographical reach, and off-take arrangements.

'The company's locked-in thermal capacity stands at 7,458 MW and with the commissioning of Unit-2 (350 MW) the operating thermal capacity will increase to 3,858 MW. The company's 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,' it added.

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's consolidated net profit marginally increased to Rs 853.25 crore in Q2 FY25 as against Rs 850.16 crore posted in Q2 FY24. Net sales marginally declined to Rs 3,237.66 crore in Q2 FY25 from Rs 3,259.42 crore reported in Q2 FY24.

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