JSW Energy: New Management Leads Turnaround In Order Inflows

Sharad Mahendra joined JSW Energy as the new joint managing director and chief executive officer on Feb. 1. The first quarter of the financial year 2025 marked Mahendra's first full quarter as the top executive of the company.

JSW Energy's order book portfolio has significantly improved since the first quarter, with its renewable energy pipeline more than doubling and its locked-in energy storage capacity growing four times in just over three months.

Here's how JSW Energy's portfolio has grown:

JSW Energy's locked-in generation capacity has grown 30.9% to 18.2 gigawatts as of Oct. 14. This compares to the 13.9 GW locked-in capacity at the start of July. This growth has mainly been driven by a larger energy storage capacity, a renewable energy pipeline, as well as the commissioning of under-construction capacity.

The steady execution of JSW Energy's projects is evident in the changes in both its operational and underconstruction capacity. Since July, the company's operational capacity has grown 5.5% to 7.7 GW. The reduction of capacity under construction also reflects this growth.

The company places significant emphasis on energy storage, which is in line with its goal of achieving a total energy storage capacity of 40 gigawatt hours by 2030. At the start of July, the company had a locked in energy storage capacity of 3.4 GWh. This has grown more than four times to 16.2 GWh currently, as per the company's press releases.

The company currently has 14.4 GWh of locked-in pumped hydro capacity and the balance of 1.8 GWh in battery energy storage.

The company's renewable energy pipeline has also more than doubled since the first quarter of fiscal 2025. It now has a pipeline of 8.3 GW, marking a 107% growth from the 4 GW capacity it had in quarter-one. Long-term power purchase agreements for 2.3 GW have currently been signed.

JSW Energy's solar pipeline currently stands at 3.2 GW, while its total locked-in wind capacity stands at 4.7 GW.