• JSW Steel divestment: JSW Energy sold 2.50 crore shares in JSW Steel for gross proceeds of approximately ₹3,150 crore to fund growth CAPEX and reduce debt, lowering net debt to EBITDA by over 30 basis points. Management confirmed it has no other non-core or quoted assets slated for near-term monetization.
• Capacity addition targets: After increasing capacity from 10.8 GW to 13.4 GW in FY26 by adding 2.6 GW of renewable energy, the company aims to add nearly 3 GW of renewable capacity in FY27. It has already commissioned 250 MW of wind and solar capacity in the first 40 days of the fiscal year.
• Fundraising plans: The company holds board and shareholder approval to raise up to ₹10,000 crore through December 2026 and is evaluating market timing to execute the fundraise before year-end. This capital will help bring the net debt-to-EBITDA ratio down toward its FY30 target of 5.0x without sacrificing growth momentum.
• Thermal operational strategy: Out of an operational portfolio of ~13.7–13.8 GW (including 5.7 GW thermal), thermal still accounts for roughly 50% of generation. To handle peak daytime solar output without curtailment losses, JSW modified its thermal plants to operate below the standard 55% technical minimum while maintaining thermal as essential baseload power for growing data center and AI demand.