9DECEMBER 2025HAIER APPLIANCES INDIA PLANS 3,500 CRORE BOOST WITH NEW PLANTJSW ENERGY SIGNS 400 MW PPA WITH KARNATAKA DISCOMS FOR 25 YEARSHaier Appliances India is set to expand its manufacturing footprint in the country with a planned investment of 3,500 crore over the next three to four years.The Chinese brand, known for its televisions, air conditioners, and refrigerators, already operates two manufacturing units in Greater Noida and Pune, and is exploring a third unit in western or southern India."We are still finalizing the location. It could be in the western or southern part of India. The investment will be approximately JSW Energy's subsidiary JSW Energy (Utkal) Ltd has signed a major Power Purchase Agreement (PPA) to supply 400 MW of electricity to multiple Karnataka distribution companies (DISCOMs) starting April 1, 2026, marking one of the most significant power deals announced today.Under the agreement, the company will deliver power for 25 years at a fixed tariff of 5.78 per kWh, strengthening 3,500 crore, in a phased manner, and it will generate about 12,000 direct and indirect jobs," said NS Satish, President, Haier Appliances India.The company recently launched its Gravity AI Series Air Conditioners at the `AI for Air' event in Greater Noida. Satish highlighted that with 90 percent of all appliances already manufactured locally, the new facility will further reduce dependence on imports.The third unit will also strengthen Haier India's export ambitions, which currently include shipments to Australia, Nepal, Sri Lanka, Bangladesh, and several African countries. "We do have plans to expand exports, which is why we are building additional capacity. Currently, our capacity is largely focused on the domestic market, but within two years we aim to significantly increase exports," he added.The company reported revenues of around 11,000 crore this year and holds a 14 percent market share in refrigerators and washing machines, and 8 percent in air conditioners. For the next year, Haier India is targeting 14,500 crore in revenue and plans to grow across all product categories.This expansion underscores Haier's commitment to strengthening its manufacturing and export capabilities while continuing to cater to the growing domestic appliance market. its long-term revenue pipeline and providing stable demand visibility.This pact significantly reshapes JSW Energy's generation outlook. By securing this long-term demand, the company has reduced its open power capacity -- the portion of power without long-term buyers -- from about 8 percent to roughly 5 percent of its current operational portfolio. This reduction helps lower market risk and improves predictability in earnings from power generation.The deal also bolsters JSW Energy's overall capacity strategy. The company's total locked-in generation capacity now stands at 30.5 GW, which includes 13.3 GW operational, 12.4 GW under construction across both thermal and renewable projects, and 150 MW of hydro assets under acquisition. Additionally, it has built a 29.4 GWh locked-in energy storage portfolio, spanning hydro pumped storage and battery systems that support grid stability and future demand peaks.Industry watchers see the 400 MW PPA with Karnataka DISCOMs as a strategic win for JSW Energy, as stable long-term PPAs are essential for power producers navigating competitive tariffs and evolving energy demand patterns. The company remains focused on its goals of reaching 30 GW generation and 40 GWh storage capacity by 2030, while advancing toward carbon neutrality by 2050 -- goals reaffirmed by its expanding PPA book and infrastructure investments.
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