Independent power producer JSW Energy has raised ₹12 billion (~$137.70 million) through private placement of Non-Convertible Debentures (NCDs).

In a BSE filing, the company said its finance committee had approved the allotment of 120,000 unsecured, rated, listed, taxable, redeemable NCDs, each with a face value of ₹100,000 (~$1,147). The issuance has been structured into two tranches with distinct tenures and interest rates.

In January, JSW Energy had secured approval from its finance committee to raise up to ₹30 billion (~$344.45 million) via rated and listed NCDs on a private placement basis.

The first tranche consists of ₹6 billion (~$68.85 million) worth of NCDs with a tenure of three years, maturing on March 3, 2028, at an interest rate of 8.75% per annum. The second tranche consists of ₹6 billion (~$68.85 million) worth of NCDs with a tenure of five years, maturing on March 4, 2030, at an interest rate of 8.80% per annum. These debentures will be listed on BSE.

The interest payments for Tranche 1 are scheduled for March 4, 2026, March 4, 2027, and March 3, 2028. For Tranche 2, interest payments will be made on March 4, 2026, March 4, 2027, March 6, 2028, March 5, 2029, and March 4, 2030.

JSW Energy had raised ₹50 billion (~$600 million) through a qualified institutions placement of shares in August last year.

The company reported a net profit of ₹1.68 billion (~$19.42 million) in the third quarter of the financial year 2025, a decrease of  27% year-over-year from ₹2.31 billion (~$26.70 million) due to lower revenues from thermal and hydropower projects.

In December, JSW Neo Energy signed an agreement to acquire a 4,696 MW renewable energy platform from O2 Power for ₹124.68 billion (~$1.46 billion). Around 2.3 GW of the acquired renewable energy capacity is expected to be operational by June 2025, with an additional 2.4 GW by June 2027.

JSW Energy’s total installed renewable capacity stands at 8,117 MW, comprising 2,543 MW of wind, 675 MW of solar, 3,508 MW of thermal, and 1,391 MW of hydro.

The company has a locked-in generation capacity of 28,308 MW, with 6,717 MW in the pipeline, distributed as 26% thermal and hybrid, 22% solar, 20% wind, and 6% hydro. Its energy storage capacity is 16.3 GWh, including 14.4 GWh of pumped hydro storage and 1.9 GWh of battery storage.