JSW Energy has quickly expanded its power business, adding a new green hydrogen plant and a floating solar farm that boost its capacity and cash flow.
New green hydrogen and floating solar projects
During a visit to the Vijaynagar site, the company showed:
- A 5,000 m³ per hour green hydrogen plant that started operating in November 2025. It supplies hydrogen to the nearby JSW steel plant.
- A 20 MW floating solar plant commissioned in September 2025. It sits on water, so it avoids land purchase and stays cooler, which helps the panels last longer.
Green hydrogen is still expensive, costing about $3.5‑$4 per kilogram, while large‑scale use would need it around $2‑$2.5 per kilogram.
Rapid capacity growth and reduced risk
JSW Energy’s operational capacity has risen from 7.2 GW at the end of FY24 to 13.2 GW by the second quarter of FY26 – almost a doubling.
- Only about 5% of its plants now sell power on the open market, which makes cash flow more predictable.
- It has a pipeline of 17.2 GW of projects, with roughly 74% already secured under long‑term power purchase agreements (PPAs).
- The company aims for 30 GW of generation capacity by FY30.
Energy storage plans
JSW Energy already has 29.4 GWh of contracted energy‑storage capacity and plans to reach 40 GWh by FY30.
Analyst outlook
Because of its strong pipeline of PPAs, analysts expect earnings before interest, taxes, depreciation and amortisation (EBITDA) to grow about 49% per year and net profit to rise 31% per year from FY25 to FY28. The report gives JSW Energy a “Buy” rating with a target price of ₹657, suggesting a potential upside of 34%.
Remember, this is just an overview, not a prediction. Always do your own research or talk to a qualified advisor before making any investment decisions.