⚡ JSW Energy Expands Thermal Portfolio with Value-Accretive Acquisition

JSW Energy is acquiring MCCPL's 300 MW operational thermal power plant in Korba, Chhattisgarh for an enterprise value of ₹1,410 crore. The asset comes with a 14-year residual PPA for 195 MW, secured coal linkages under the SHAKTI scheme, and estimated FY26 EBITDA of ₹279 crore, implying an attractive EV/EBITDA multiple of ~5.1x. The acquisition is expected to be immediately EBITDA and PAT accretive while enhancing earnings visibility and cash flow stability. Beyond financial gains, the deal strengthens JSW Energy's thermal generation platform at a time when India's power demand continues to rise. The plant's proximity to the company's Mahanadi operations offers scope for logistics and O&M cost optimization, while increasing JSW Energy's installed and locked-in thermal capacity to nearly 11 GW. The move signals that efficient, contracted thermal assets remain strategically valuable despite the industry's increasing focus on renewables.