JSW Energy to Acquire 300 MW Maruti Clean Coal and Power for INR 1,410 Crore
JSW Energy has signed a definitive agreement to acquire 100 per cent equity in Maruti Clean Coal and Power, which owns and operates a 300 MW thermal power plant in Korba, Chhattisgarh.
June 16, 2026. By Mrinmoy Dey
MCCPL owns and operates a 300 MW thermal power plant at Korba, Chhattisgarh. The plant has a long-term Power Purchase Agreement (PPA) of 195 MW (net) with Rajasthan discoms, routed through PTC India, with a residual PPA life of ~14 years. In addition, the plant provides 5 percent power at variable cost to the Chhattisgarh discom, while the balance 64 MW capacity is sold in the merchant market. Coal is secured through a long-term Fuel Supply Agreement with SECL and linkage under the SHAKTI scheme.
The transaction values MCCPL at an Enterprise Value of approximately INR 1,410 crore, subject to customary closing adjustments as per the definitive agreements. The acquired asset's estimated FY26 EBITDA stood at about INR 279 crore. This operating asset is EBITDA and PAT-accretive, while also reducing the company's net leverage and strengthening overall balance sheet resilience.
Beyond the immediate financial benefits, the asset offers potential upside through optimisation of logistics and O&M costs. Its proximity to JSW Energy's Mahanadi thermal plant further unlocks operational synergies, stated the company.
Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, said, “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.”
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.
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