JSW Energy Signs Deal to Buy 300 MW Maruti Clean Coal & Power Ltd.

JSW Energy Ltd has signed a definitive agreement to acquire 100 per cent equity in Maruti Clean Coal & Power Ltd (MCCPL) from Kolahai Infotech Pvt Ltd and SFI Parcel Services Pvt Ltd, strengthening its thermal power portfolio. The transaction, valued at an enterprise value of about ₹1,410 crore, is subject to regulatory and customary approvals.

Upon completion, MCCPL will become a wholly owned subsidiary of JSW Energy.

MCCPL owns and operates a 300 MW thermal power plant in Korba, Chhattisgarh. The plant has a long-term power purchase agreement (PPA) for 195 MW of net capacity with Rajasthan discoms through PTC India, with around 14 years remaining on the contract. It also supplies 5 per cent of power at variable cost to the Chhattisgarh discom, while the remaining capacity is sold in the merchant market. Coal requirements are secured through a long-term fuel supply agreement with SECL and allocations under the SHAKTI scheme.

JSW Energy said the acquisition is expected to be immediately accretive to earnings and profitability. MCCPL reported an estimated EBITDA of around ₹279 crore for FY26. The company added that the transaction would strengthen cash flows, reduce net leverage and enhance balance-sheet resilience.

The company also sees scope for operational improvements through optimisation of logistics and operations and maintenance costs. MCCPL's proximity to JSW Energy's Mahanadi thermal power plant is expected to create synergies and bolster the company's regional thermal power footprint.

Commenting on the acquisition, Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, said the deal aligns with the company's disciplined "Build vs Buy" strategy and provides an operating asset that is earnings-accretive from day one.

Following the acquisition, JSW Energy's installed thermal generation capacity will rise to 5,958 MW, while its total installed and locked-in thermal capacity will increase to 10,958 MW. The company currently has a total locked-in generation capacity of 32.1 GW across thermal, hydro and renewable energy assets and aims to reach 30 GW of generation capacity and 40 GWh of energy storage capacity by 2030, while targeting carbon neutrality by 2050.