JSW Energy Signs 400 MW PPA with Karnataka DISCOMs for 25 Years

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 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.

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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.