JSW Energy has announced a substantial increase of over 40% in its renewable power generation for the first quarter of the 2025 financial year, although its solar output saw a decline.
According to the company's latest financial results, renewable power generation rose to 3,242 million units from 2,258 million units, marking a 43.6% increase year-on-year. Despite this overall growth, electricity output from solar projects decreased by 2.7%, falling from 366 million units in Q1 FY2024 to 356 million units in Q1 FY2025.
The company's solar PV plants reported a capacity utilization factor of 24% in Q1 FY2025, down from 25% in the same period the previous year. This decline contrasts with India's broader solar generation trends, where solar power generation grew by 15% year-on-year in Q1 FY2025.
JSW Energy's total power generation capacity reached 7,881 million units in FY2025, up from 6,699 million units in FY2024, reflecting an 18% increase. This growth was largely driven by expansions in hydropower capacity, which increased from 1,144 million units to 1,840 million units, alongside renewable capacity additions and the operation of a new thermal power plant. The company's current power generation capacity is 7,536 megawatts (MW), including 675 MW from solar.
Financially, JSW Energy's earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 21% year-on-year to INR 15.81 billion (approximately $190 million), driven by the higher generation figures.
The company has also secured a significant contract through its subsidiary, JSW Neo Energy, for a 700 MW solar PV project as part of a competitive tender from the National Thermal Power Corporation (NTPC). JSW Energy's bid was the largest among four winners, with the company securing the project at INR 3.42 per kWh.
JSW Energy remains an active participant in India's power generation sector and continues to expand its renewable energy portfolio.
