Energizing Growth: JSW Energy Secures BESPA Pact and Raises ₹800 Crore in Bonds

Battery Storage Agreement with RVUNL:- Signed a 12-year Battery Energy Storage Purchase Agreement (BESPA) with Rajasthan Vidyut Utpadan Nigam for a 250 MW/500 MWh standalone system under a build-own-operate model, at a tariff of ₹2.24 lakh per MW per month, supported by viability gap funding. Executed through step-down subsidiary JSW Renew Energy Thirty Seven, lifting total locked-in storage capacity to 29.3 GWh and targeting 40 GWh by 2030. Fund Raising via Bond Issuance:- Announced plans to raise ₹800 crore through three- and five-year bonds with coupon rates of 8.75% and 8.80%, respectively. Shares surged as much as 3.55% on March 19, 2025—hitting ₹567.80—before settling around ₹565.30, marking a third straight day of gains. Capacity Expansion and Financial Targets:- Revised FY25 capex guidance down to ₹10,000 crore (from ₹15,000 crore) to focus on inorganic growth via acquisitions. Aims for 10 GW capacity by FY25 and 20 GW by FY30, aligning with a broader push to achieve 30 GW and carbon neutrality by 2050. Recent Corporate Developments:- Secured a power purchase agreement for an ISTS‐connected 300 MW solar-wind hybrid project through its subsidiary Energizent Power with NHPC. Received creditor approval for its KSK Water Infrastructures settlement proposal, bolstering balance-sheet stability.