JSW Energy Ltd, a group company of Jindal South West group, is the first Independent Power Producer in Karnataka, India. The company currently has 560 MW of operational generating capacity and 3,090 MW of generating capacity in the construction or implementation phase. In addition, they engage in power trading activities. The company has set up 2 units of 130 MW each and both units are generating power using Corex gas and coal.
JSW Energy Ltd was incorporated on March 10, 1994 as a joint venture between JSW Steel Ltd and Tractebel S.A., Belgium with the name Jindal Tractebel Power Company Ltd. In January 18, 2000, the company started commercial operations of Unit-II of 2x130 MW Power Plant at Toranagullu and in August 5, 2000, they started commercial operation of Unit-I of 2x130 MW Power Plant at Toranagullu.
In December 2001, Tractebel S A, Belgium sold their share holdings in the company to ICICI, IDBI and Jindal group companies. Consequent to this, the name of the company was changed from Jindal Tractebel Power Company Ltd to Jindal Thermal Power Company Ltd on January 17, 2002. In order to have the group identity the company further changed their name to JSW Energy Ltd on December 7, 2005.
In February 10, 2006, the company acquired Raj WestPower Ltd under the share purchase agreement and thus Raj WestPower Ltd became a subsidiary company. In May 5, 2006, they incorporated JSW Energy (Vijayanagar) Ltd as a subsidiary company.
In June 13, 2006, the company incorporated JSW Energy (Ratnagiri) Ltd for setting up a 1,200 MW power plant at Jaigad in Maharashtra, based on imported coal. In July 8, 2006, they incorporated JSW Power Trading Company Ltd to carry on the business of power trading.
In January 19, 2007, Raj WestPower Ltd and Rajasthan State Mines and Minerals Ltd formed a joint venture company, namely Barmer Lignite Mining Company Ltd for engaging in mining activities in the Kapurdi and Jalipa lignite mining blocks in Barmer District, Rajasthan. In March 28, 2007, they acquired PT Param Utama Jaya in Indonesia thereby making it a wholly owned subsidiary company.
In July 28, 2007, the company was awarded 260 MW Kuther Hydro Electric Project. In November 1, 2007, the company de-merged their investment division and transferred it to JSW Energy Investments Pvt Ltd. In November 11, 2007, the company signed a joint venture agreement with Mahanadi Coalfields Ltd, JSW Steel Ltd, Jindal Stainless Ltd and Shams DRI Power Ltd for mining of coal from Utkal, a coal block in Orissa.
In April 23, 2008, the company incorporated Jaigad PowerTransco Ltd as wholly owned subsidiary company. In May 7, 2008, the company made a joint venture agreement with Toshiba Corporation, Japan for setting up of Turbine & Generator manufacturing facility in India.
In August 5, 2008, the company made a joint venture agreement with Maharashtra State Electricity Transmission Company Ltd for setting up of Transmission Lines in the State of Maharashtra. In October 10, 2008, JSW PowerTransco Ltd and JSW Energy (Vijayanagar) Ltd were amalgamated with the company with effect from April 1, 2008.
In April 10, 2009, the company commissioned Unit - I of 2X300MW Power Plant at Toranagullu. In August 31, 2009, they incorporated JSW Energy (Raigarh) Ltd for setting up a 1,320 MW power plant at Raigarh in Chhattisgarh, based on domestic coal. In September 1, 2009, they commenced commercial operations of Unit - II of 2X300MW Power Plant at Toranagullu.
The company is planning to expand generation capacity to 15,000 MW by 2015. They expect to commission power plants with 570 MW of capacity, comprising 2x135 MW of Raj WestPower Ltd's 1,080 MW power plant in Rajasthan and 1x300 MW of JSW Energy (Ratnagiri) Ltd's 1,200 MW power plant in Maharashtra, in fiscal 2010. In addition, the company expects to have additional aggregate generation capacity of 8,250 MW through their projects under implementation and development.