JSW Energy to Invest Rs 14,000 Crore to Boost O2 Power's Renewable Capacity to 4.7 GW

JSW Energy, a leading private power producer in India, has announced a Rs 14,000 crore investment to expand the renewable energy capacity of its recently acquired O2 Power to 4.7 gigawatts (GW) by June 2027. The company’s subsidiary, JSW Neo Energy Ltd, acquired O2 Power’s 4,696 MW renewable energy platform for Rs 12,468 crore, marking a significant step toward JSW Energy’s goal of achieving 20 GW capacity by 2030.

Right now, O2 Power has 1.3 GW of clean energy up and running. Another 2,259 MW is expected to come online by June 2025, with 1,463 MW already under construction. Plus, there’s 974 MW in the planning stages. Sharad Mahendra, Joint Managing Director, mentioned in a call with analysts that this expansion will cost around RS 13,000-14,000 crore. Looking ahead, JSW Energy plans to spend Rs 15,000-18,000 crore in FY26 to wrap up current projects and kick off new ones.

Key Highlights:

• JSW Energy is investing ₹14,000 crore to boost O2 Power’s renewable capacity to 4.7 GW by June 2027
• With this expansion, JSW’s total capacity rises to 12.2 GW, over half of it green, edging closer to its 20 GW target by 2030
• The move strengthens JSW’s clean energy push, with 11.3 GW in the pipeline and a goal of carbon neutrality by 2050

With this deal, JSW Energy’s total capacity jumps to 12.2 GW, with more than half coming from renewable sources. O2 Power’s projects include 4,100 MW of large-scale renewable plants and 596 MW for businesses and industries, spread across seven resource-rich states. About 3,722 MW is secured with long-term deals from trusted buyers.

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JSW Energy is also working on 11.3 GW of projects, including 9.7 GW of renewables and a 1.6 GW thermal plant in Salboni. Another 4.9 GW is waiting for final contracts. This move cements JSW Energy’s place in India’s green energy future, aiming for carbon neutrality by 2050.