JSW Energy Limited has informed stock exchanges about the assignment of a credit rating for its step-down subsidiary's banking facilities. The announcement comes as part of the company's regulatory disclosure obligations under SEBI guidelines.

Credit Rating Assignment Details

ICRA Ratings Limited assigned a rating of 'ICRA A/Stable' for the long-term bank facilities of Solalite Power Private Limited on February 16, 2026. The rating agency communicated this decision through its official release on the same date.

Subsidiary Information

Solalite Power Private Limited operates as a step-down subsidiary of JSW Energy Limited. The credit rating assignment reflects the financial assessment of the subsidiary's long-term banking arrangements and creditworthiness.

Regulatory Compliance

The disclosure was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates listed companies to inform stock exchanges about material events and developments that could impact investor decisions.

The company secretary Monica Chopra signed the official communication to both BSE Limited and National Stock Exchange of India Limited, ensuring compliance with listing requirements. The press release containing detailed information about the rating assignment is available on ICRA's official website at www.icra.in .

JSW Energy has successfully completed a major acquisition in the hydropower sector, with its wholly-owned subsidiary JSW Neo Energy Limited acquiring Tidong Power Generation Private Limited from Statkraft IH Holding AS. The transaction, valued at ₹1728 crores excluding net current assets and other adjustments, represents a strategic expansion of the company's renewable energy portfolio.

Transaction Overview

The acquisition involves a 150 MW run-of-river hydro-electric power plant currently under construction in Tidong Valley, situated in Kinnaur district of Himachal Pradesh. Following the completion of necessary regulatory approvals, Tidong Power has become a subsidiary of JSW Neo Energy Limited and a step-down subsidiary of JSW Energy Limited.

Power Purchase Agreement Details

The project comes with a secured long-term Power Purchase Agreement with Uttar Pradesh Power Corporation Ltd, providing revenue certainty for a significant portion of the plant's capacity. The agreement covers 75 MW of power during the months of May to October at a tariff of ₹5.57/KWh. The remaining capacity of 75 MW is currently untied and can be sold on the merchant market, providing flexibility for revenue optimization.

Strategic Significance

This acquisition marks JSW Energy's fourth hydro asset in Himachal Pradesh, further reinforcing its position as India's largest private hydropower player. The project's proximity to the existing Karcham Wangtoo plant is expected to enable significant operational synergies. With the project in advanced stages of completion, it is anticipated to be value-accretive in the near term and enhance the company's EBITDA in FY27, supported by its remunerative tariff structure.

Company Portfolio Expansion

JSW Energy currently maintains a total locked-in generation capacity of 32.10 GW, comprising 13.30 GW operational capacity and 14.20 GW under-construction across thermal, hydro and renewable sources, with an additional pipeline of 4.60 GW. The company also has 29.60 GWh of locked-in energy storage capacity through hydro pumped storage projects of 26.40 GWh and battery energy storage system of 3.20 GWh.

Future Growth Targets

The company aims to reach 30 GW generation capacity and 40 GWh of energy storage capacity by 2030, while targeting Carbon Neutrality by 2050. This acquisition aligns with JSW Energy's strategic vision of expanding its renewable energy footprint and strengthening its position in the Indian power sector.