JSW Energy Limited has entered into a definitive agreement with Kolahai Infotech Private Limited and SFI Parcel Services Private Limited to acquire a 100% equity stake in Maruti Clean Coal & Power Limited (MCCPL). The transaction is subject to customary regulatory approvals and closing conditions. Upon completion, MCCPL will become a wholly owned subsidiary of JSW Energy.
MCCPL owns and operates a 300 MW thermal power plant located in Korba, Chhattisgarh. The facility has a long-term Power Purchase Agreement (PPA) for 195 MW (net) with Rajasthan discoms through PTC India, with approximately 14 years remaining on the contract. The plant also supplies 5% of its power at variable cost to the Chhattisgarh discom, while the remaining capacity of around 64 MW is sold in the merchant market. Fuel requirements are secured through a long-term Fuel Supply Agreement with South Eastern Coalfields Limited (SECL) and coal linkage under the SHAKTI scheme.
The acquisition values MCCPL at an enterprise value of approximately ₹1,410 crores, subject to customary closing adjustments. The asset is expected to generate an estimated EBITDA of around ₹279 crore in FY26. According to the company, the acquisition is expected to be immediately accretive to both EBITDA and profit after tax (PAT), while also improving net leverage metrics and further strengthening the balance sheet.
Beyond the immediate financial benefits, the asset offers potential upside through optimization of logistics and O&M costs. Its proximity to JSW Energy’s Mahanadi thermal plant further unlocks operational synergies, strengthening the Company’s regional thermal footprint.
“This acquisition reflects our disciplined ‘Build vs. Buy’ approach, where we pursue calibrated value accretive inorganic opportunities. MCCPL has an operating asset that is earnings accretive from day one, strengthening both our thermal portfolio and our cash flows. As we fortify our thermal generation capacity, we remain proud to play our part in powering India’s growth and supporting the nation’s energy security. This transaction is another step in building a balanced, resilient portfolio that delivers sustainable returns while meeting the country’s rising energy needs,” says Mr. Sharad Mahendra, Joint Managing Director and CEO of JSW Energy
JSW Energy currently operates an installed thermal capacity of 5,658 MW, with a further 3,200 MW under construction at its Salboni Thermal Power Plant and a pipeline of 1,800 MW for brownfield expansion at Mahanadi. This operating asset acquisition further strengthens the Company’s installed thermal portfolio. Post closure, the Company’s total installed and locked-in thermal capacity will reach 5,958 MW and 10,958 MW respectively.
JSW Energy has a current total locked-in generation capacity of 32.1 GW, comprising 13.9 GW operational and 13.6 GW under construction across thermal, hydro, and renewables, with a pipeline of 4.6 GW. The company also has 29.6 GWh of locked-in energy storage capacity, comprising pumped hydro storage of 26.4 GWh and battery energy storage systems of 3.2 GWh. The company aims to reach 30 GW of generation capacity and 40 GWh of energy storage capacity by 2030, and to achieve carbon neutrality by 2050.
For the transaction, Khaitan & Co acted as legal advisor, BDO India carried out financial and tax due diligence, and Roots Legal conducted land due diligence for JSW Energy.
