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 Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Infrastructure Urban

01 Jun 2026

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

Infrastructure Urban

01 Jun 2026

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..