ICRA Reaffirms Credit Ratings for JSW Energy Subsidiaries

JSW Energy Limited , a key player in India's power sector, has received positive news regarding the credit ratings of its step-down subsidiaries. ICRA Limited, a prominent credit rating agency, has reaffirmed ratings for several of JSW Energy's subsidiaries, highlighting the company's strong financial position in the power generation market.

Key Rating Actions

ICRA has taken the following rating actions:

Subsidiary	Rating Action
Mytrah Agriya Power Private Limited	Reaffirmed at ICRA A-/Stable
JSW Aakash Power Private Limited	Reaffirmed at ICRA A+/Stable
JSW Abhinav Power Private Limited	Reaffirmed at ICRA A+/Stable

In addition to these, ICRA has reaffirmed ICRA A+/Stable ratings for several other step-down subsidiaries of JSW Energy, including:

Mytrah Vayu (Manjira) Private Limited
Mytrah Vayu Urja Private Limited
Bindu Vayu Urja Private Limited
Mytrah Aadhya Power Private Limited
Mytrah Vayu (Krishna) Private Limited
JSW Vayu (Pennar) Private Limited
JSW Adarsh Power Private Limited
JSW Advaith Power Private Limited
JSW Akshaya Energy Private Limited
JSW Vayu (Godavari) Private Limited
JSW Vayu (Sabarmati) Private Limited

Significance of the Ratings

The reaffirmation of these credit ratings reflects the stable financial health and operational performance of JSW Energy's subsidiaries. ICRA's A+ rating indicates adequate degree of safety regarding timely servicing of financial obligations and low credit risk. The 'Stable' outlook suggests that the ratings are likely to remain unchanged in the near term.

JSW Energy's Market Position

JSW Energy has established a strong presence in India's power sector with a diversified portfolio of assets in power generation and transmission. The company has a total locked-in generation capacity of 30.5 GW, which includes:

13.3 GW operational capacity
12.5 GW under-construction (thermal and renewable)
150 MW under-acquisition hydro
4.6 GW in the pipeline

Additionally, JSW Energy has 29.4 GWh of locked-in energy storage capacity, comprising 26.4 GWh of hydro pumped storage projects and 3.0 GWh of battery energy storage systems.

Future Outlook

JSW Energy has set ambitious targets for the future, aiming to:

Reach 30 GW generation capacity by FY 2030
Achieve 40 GWh of energy storage capacity by FY 2030
Attain Carbon Neutrality by 2050

These goals underscore the company's commitment to sustainable growth and its role in India's transition towards cleaner energy sources.

The reaffirmation of credit ratings for its subsidiaries is a positive indicator for JSW Energy, potentially supporting its expansion plans and reinforcing investor confidence in the company's financial stability and growth prospects.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.09%	+1.86%	-2.26%	+11.34%	-27.76%	+726.90%

JSW Energy Limited , a key player in India's power sector, has marked a significant milestone in the country's clean energy transition by commissioning its first and India's largest green hydrogen manufacturing plant. The facility, strategically located at the JSW Steel complex in Vijayanagar, Karnataka, represents a major step forward in India's pursuit of sustainable energy solutions.

Key Highlights of the Green Hydrogen Plant

Production Capacity: 3,800 tons per annum (TPA) of green hydrogen
Additional Output: 30,000 TPA of green oxygen
Primary Customer: JSW Steel for low-carbon steel production
Agreement: Seven-year offtake agreement with JSW Steel Ltd

Strategic Importance and Future Plans

The plant's commissioning is part of JSW Energy's broader commitment to sustainable energy production and aligns with India's ambitious green hydrogen goals. The project falls under the Production Linked Incentive Scheme – Tranche I and is part of the Strategic Interventions for Green Hydrogen Transition (SIGHT) program by the Solar Energy Corporation of India (SECI).

JSW Energy has also signed a Memorandum of Understanding with JSW Steel Ltd, outlining plans to progressively increase supply to:

85,000–90,000 TPA of green hydrogen
720,000 TPA of green oxygen by 2030

JSW Energy's Growth Trajectory

Metric	Current Status	Future Target
Total Locked-in Generation Capacity	30.5 GW	30 GW by FY 2030
Operational Capacity	13.3 GW	-
Under-construction Capacity	12.5 GW	-
Energy Storage Capacity	29.4 GWh	40 GWh by FY 2030

JSW Energy aims to achieve carbon neutrality by 2050, demonstrating its commitment to sustainable power generation and India's clean energy future.

Industry Impact and National Goals

The commissioning of this plant is a crucial step towards India's target of producing approximately 5 MTPA of green hydrogen by 2030. It showcases JSW Energy's role as a frontrunner in driving the country's clean energy transformation and supporting the decarbonization of hard-to-abate sectors like steel manufacturing.

Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, emphasized the significance of this project, stating, "We are proud to commission India's first green hydrogen plant under National Green Hydrogen Mission, implemented through the SIGHT programme, by Government of India. The project is a key milestone in our country's clean energy journey and reflects our unwavering commitment to support India's transition toward a low-carbon economy."

As India continues to push for cleaner energy alternatives, JSW Energy's green hydrogen initiative sets a precedent for other industry players, potentially catalyzing further investments and innovations in the sustainable energy sector.