JSW Energy’s solar generation drops despite power output growth

July 22, 2024
Facebook
Twitter
LinkedIn
Reddit
Email
India’s solar generation capacity increased by 15% in the most recent quarter. Image: MNRE.

Indian power company JSW Energy’s renewable power generation has increased by over 40% for the first quarter of the 2025 financial year, but electricity output from solar projects dropped by 2.7% over the same quarter.

In its latest financial results, the company said its electricity generation from renewable power sources increased from 2,258 million units to 3,242 million units, representing an increase of 43.6%.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

However, the company’s solar PV plants achieved an average capacity utilisation factor of 24% in Q1 FY2025, dropping from 25% in Q1 FY2024. The generation of electricity from solar sources dropped from 366 million units in Q1 FY2024 to 356 million units in Q1 FY2025.

The company’s solar generation was not in line with India’s solar generation growth. In a same statement, JSW Energy said India’s renewable power generation increased by 6% year-on-year in Q1 FY2025, driven by solar generation, which was up 15% year-on-year.

Overall, JSW Energy’s power generation capacity reached 7,881 million units in FY2025, up from 6,699 million units in FY2024, representing a 18% year-on-year increase. The growth was driven by expansions in hydropower – where the installed capacity increased from 1,144 million units to 1,840 million units – renewable capacity additions and the operation of a thermal power plant.

Currently, the company’s power generation capacity sits at 7,536MW, including 675MW of solar.

In terms of financial results, JSW Energy’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased by 21% year-on-year to INR15.81 billion (US$190 million), driven by higher electricity generation figures.

JSW Energy is an active player in India’s power generation industry. It was one of the winners of a tender for solar PV paired with battery storage hosted by the Solar Energy Corporation of India (SECI).

JSW Energy was among four companies to win the tender, and won the most capacity with a bid for 500MW at INR3.42/kWh. Other winners include Pace Digitek Infra, awarded 100MW at INR3.41/kWh – which was the lowest bid – Hero Solar Energy, awarded 250MW at INR3.42/kWh; and ACME Solar Holdings, for 350MW, also at INR3.42/kWh.

In JSW Energy, the company was awarded the contract for a 700MW solar PV project through its wholly-owned subsidiary, JSW Neo Energy. The deal came through a competitive, tariff-based tender from the Indian government-owned electricity generator the National Thermal Power Corporation (NTPC). The entire tender sought 1.5GW of solar PV capacity to be connected to India’s Interstate Transmission System (ISTS).

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

Read Next

October 30, 2025
Scatec posted development and construction (D&C) revenues of NOK1,760 million (US$175.1 million) in the third quarter of this year.
October 30, 2025
Global net zero by 2050 is now “impossible” and the world is on course for temperature rises of 2.6°C, according to energy market analyst Wood Mackenzie.
October 30, 2025
US microinverter producer Enphase Energy posted increased revenues, margin and income in Q3 2025, as it doubles down on its US manufacturing operations.
October 30, 2025
Nexamp has secured US$600 million in financing for distributed solar and energy storage projects in the US.
October 30, 2025
New Zealand’s Genesis Energy has announced plans to acquire and develop a 271MWp solar project in Waikato, on the country’s upper North Island. 
October 30, 2025
Meridian Energy, a New Zealand state-owned energy company, has begun the construction of its 230GWh Ruakaka solar plant. 

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
November 12, 2025
10am PST / 1pm EST
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany