JSW Energy has appointed Sanjay Sagar as an Additional Director (Non-Executive, Non-Independent), effective August 8, 2026. The Board of Directors approved the appointment during its meeting held on August 8, 2026, based on the recommendation of the Compensation and Nomination & Remuneration Committee. The appointment is subject to the approval of the Company’s shareholders. This addition to the board brings over four decades of techno-commercial experience in the power, mining, infrastructure, and defence sectors.

The appointment was disclosed pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026, dated January 30, 2026. The Board meeting commenced at 3:00 p.m. and concluded at 4:10 p.m. Monica Chopra, Company Secretary, signed the disclosure. Mr. Sagar is not debarred from holding the office of Director by virtue of any SEBI Order or any such authority.

Profile and Experience

Sanjay Sagar (DIN: 00019489) is a distinguished business leader with an accomplished track record in Board and CEO-level leadership. His expertise spans corporate strategy, P&L management, mergers & acquisitions, business development, investor relations, corporate affairs, regulatory and government engagement, tariff and legal matters, and the execution of large-scale infrastructure projects, specifically in the execution and operation of thermal power plants.

He has led the successful execution of major power and mining projects and steered regulatory and corporate affairs for leading business groups. Previously, he held leadership positions as Joint Managing Director & CEO of JSW Energy Limited, Managing Director of Jindal Power Limited, and Managing Director of Barmer Lignite Mining Company Limited.

Current Directorships

Mr. Sagar currently serves as a director on the boards of the following entities:

Appointment Details

The particulars of the appointment are outlined below:

What This Means

The appointment of Sanjay Sagar adds significant operational and strategic depth to JSW Energy’s board, particularly in thermal power plant execution and regulatory engagement. His prior tenure as Joint Managing Director & CEO of the company suggests a deep institutional knowledge that may support continuity in strategy while bringing fresh oversight as a non-executive director. The requirement for shareholder approval indicates a standard governance process for finalizing his permanent status on the board.

JSW Energy has completed the acquisition of 100% of the equity shares of Maruti Clean Coal and Power Limited (MCCPL), integrating the company as a wholly-owned subsidiary. The transaction, valued at an Enterprise Value of ₹1,410 crore, adds a 300 MW thermal power plant in Korba, Chhattisgarh, to JSW Energy's portfolio. This move raises the company's total installed capacity to 14,835 MW and is expected to be accretive to both EBITDA and PAT from day one, while reducing net leverage.

The acquisition was finalized following a definitive agreement signed on June 13, 2026, with sellers Kolahai Infotech Private Limited and SFI Parcel Services Private Limited. JSW Energy disclosed the completion under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Khaitan & Co served as legal advisor, BDO India conducted financial and tax due diligence, and Roots Legal handled land due diligence for the transaction.

Asset Profile and Commercial Terms

MCCPL operates a 300 MW thermal power project in Chhattisgarh. The asset reported an EBITDA of ₹279 crore in FY26. The plant's power sales are diversified across long-term agreements and merchant markets, as detailed below:

The long-term Power Purchase Agreement (PPA) with Rajasthan discoms has a residual life of approximately 14 years. Coal supply is secured through a long-term Fuel Supply Agreement with Singareni Collieries Company Limited (SECL) under the SHAKTI scheme.

What the Numbers Show

The acquisition strengthens JSW Energy's balance sheet resilience by adding a cash-generative asset with long-term contracted revenue. With FY26 EBITDA of ₹279 crore against an enterprise value of ₹1,410 crore, the asset offers a yield that supports immediate profitability accretion. Furthermore, the proximity of the Korba plant to JSW Energy's existing Mahanadi facility is expected to unlock operational synergies through optimized logistics and O&M costs, enhancing the regional thermal footprint.

Broader Portfolio Impact

With this addition, JSW Energy's total locked-in generation capacity stands at 32.4 GW, comprising 14,835 MW operational and 13.6 GW under construction across thermal, hydro, and renewable segments. The company currently operates 5,958 MW of thermal capacity, with 3,800 MW under construction at Salboni and Mahanadi Thermal Power Plants. Additionally, a pipeline of 1,200 MW for brownfield expansion at Mahanadi is in progress.

JSW Energy also maintains 29.6 GWh of locked-in energy storage capacity, including 26.4 GWh of pumped hydro storage and 3.2 GWh of battery energy storage systems. The company targets 30 GW of power generation capacity and 40 GWh of energy storage by 2030, with a goal of achieving carbon neutrality by 2050.