JSW Energy Acquires GE Boiler Unit, Boosts Hydro Capacity

23 Sep 2025 CW Team

Under the deal, GEPIL will demerge its Durgapur boiler manufacturing facility to JSW Energy via a share-swap arrangement. JSW Energy will issue 10 equity shares for every 139 shares held by GEPIL shareholders, with the scheme’s appointed date set as 1 July 2025.

JSW Energy said the demerger will enable vertical integration, reduce dependency on third-party suppliers, achieve economies of scale, and improve control over critical components. The move is expected to enhance cost efficiency and support the company’s future thermal projects, aligning with its long-term energy portfolio expansion strategy.

Analysts have reacted positively. Jefferies has a Buy call on JSW Energy, noting management anticipates 4.4–4.9 GW of capacity addition in FY26, compared with estimates of 3.1 GW. Morgan Stanley has an Overweight rating with a target price of Rs 659 per share. Shares of JSW Energy were up 1.5 per cent in early trade on 19 September.

In a separate development, JSW Neo Energy, a wholly owned subsidiary of JSW Energy, is acquiring Tidong Power Generation from Statkraft IH Holding. The hydro project under construction has a capacity of 150 MW and is valued at Rs 1,728 crore. The acquisition, expected to be completed by 15 January 2026, will support JSW Energy’s renewable capacity target of 30 GW by FY30.

Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, said: “This acquisition strengthens our position as the largest private hydro power player in India and reinforces our commitment to the country’s power sector. We are confident of completing construction in a timely manner.” The project will become JSW Energy’s fourth hydro asset in Himachal Pradesh, significantly enhancing its hydropower portfolio.

India’s total installed power capacity has reached 485 GW, with 19.9 GW added in Q1 FY26 alone. Non-fossil fuel capacity now stands at 243 GW, achieving India’s Paris Agreement target five years ahead of schedule. JSW Energy noted a trend of state distribution companies increasingly bidding for thermal power, expected to continue in FY26.

JSW Energy, the holding company of JSW Group's power business, will acquire the boiler manufacturing unit of GE Power India (GEPIL) through a strategic demerger to strengthen its thermal power operations, the company said in an exchange filing. The announcement on September 19 pushed JSW Energy shares modestly higher in a weak market.Under the deal, GEPIL will demerge its Durgapur boiler manufacturing facility to JSW Energy via a share-swap arrangement. JSW Energy will issue 10 equity shares for every 139 shares held by GEPIL shareholders, with the scheme’s appointed date set as 1 July 2025.JSW Energy said the demerger will enable vertical integration, reduce dependency on third-party suppliers, achieve economies of scale, and improve control over critical components. The move is expected to enhance cost efficiency and support the company’s future thermal projects, aligning with its long-term energy portfolio expansion strategy.Analysts have reacted positively. Jefferies has a Buy call on JSW Energy, noting management anticipates 4.4–4.9 GW of capacity addition in FY26, compared with estimates of 3.1 GW. Morgan Stanley has an Overweight rating with a target price of Rs 659 per share. Shares of JSW Energy were up 1.5 per cent in early trade on 19 September.In a separate development, JSW Neo Energy, a wholly owned subsidiary of JSW Energy, is acquiring Tidong Power Generation from Statkraft IH Holding. The hydro project under construction has a capacity of 150 MW and is valued at Rs 1,728 crore. The acquisition, expected to be completed by 15 January 2026, will support JSW Energy’s renewable capacity target of 30 GW by FY30.Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, said: “This acquisition strengthens our position as the largest private hydro power player in India and reinforces our commitment to the country’s power sector. We are confident of completing construction in a timely manner.” The project will become JSW Energy’s fourth hydro asset in Himachal Pradesh, significantly enhancing its hydropower portfolio.India’s total installed power capacity has reached 485 GW, with 19.9 GW added in Q1 FY26 alone. Non-fossil fuel capacity now stands at 243 GW, achieving India’s Paris Agreement target five years ahead of schedule. JSW Energy noted a trend of state distribution companies increasingly bidding for thermal power, expected to continue in FY26.

Infrastructure Energy

17 Dec 2025

Vedanta Aluminium Uses 1.57 bn Units of Green Energy in FY25

Vedanta Aluminium, India’s largest aluminium producer, recently reported consumption of 1.57 billion units of renewable energy in FY25, marking a significant milestone in its 2030 decarbonisation roadmap. The company also achieved an 8.96 per cent reduction in greenhouse gas (GHG) emissions intensity compared to FY21, reinforcing its leadership in India’s low-carbon manufacturing transition. During FY25, Vedanta Aluminium expanded its renewable energy portfolio through long-term power purchase agreements, strengthening its strategy to source nearly 1,500 MW of renewable power over the lon..

Real Estate

17 Dec 2025

Oberoi Group to Develop Luxury Resort at Makaibari Tea Estate

EIH Limited, the flagship company of The Oberoi Group, has announced the signing of a management agreement to develop an Oberoi luxury resort at the iconic Makaibari Tea Estate in Darjeeling. The project marks a key milestone in the Group’s long-term strategy of creating distinctive hospitality experiences in rare and environmentally significant locations. Established in 1859, Makaibari is one of the world’s oldest tea estates and is globally recognised for its Himalayan landscape, primary forests and exceptional biodiversity. Spread across 1,236 acres, the estate houses one of the world�..

Real Estate

17 Dec 2025

GHV Infra Secures Rs 1.09 Bn EPC Order in Jamshedpur

GHV Infra Projects Ltd, a fast-growing EPC company in India’s infrastructure and construction sector, has recently secured a Rs 1.09 billion work order in Jamshedpur, Jharkhand. Awarded by a reputed group entity, the contract covers end-to-end civil construction, mechanical, electrical and plumbing (MEP) systems, along with high-quality finishing works for a large building development. The project will be executed over a 30-month period, with defined benchmarks for quality, safety and timely delivery. The order strengthens GHV Infra’s footprint in Jamshedpur, a key industrial hub known fo..