JSW Energy has completed the acquisition of additional equity shares of Toshiba JSW Power Systems (TJPS) from Toshiba Corporation, Japan, by way of a secondary purchase of equity shares, for a total cash consideration of Rs 150 crore. Pursuant to the completion of the aforesaid transaction, the company’s shareholding in TJPS has increased to 20.7% from 4.6% on a non-diluted basis, and to 10.7% from 2.4% on a fully diluted basis, thereby strengthening its ownership position in TJPS.
TJPS is a joint venture between the Company, Toshiba Corporation and JSW Steel. TJPS operates a state-of-the-art, Chennai-based manufacturing facility which can manufacture large-sized supercritical / ultra-supercritical steam turbine generators ranging up to 1,000 MW.
The acquisition is a strategic step towards strengthening the company’s access to steam turbine generators, enhancing supply chain resilience, and supporting its thermal capacity expansion plans. The company has already placed orders for 1,600 MW of ultra-supercritical turbine-generators with TJPS, which enhances the company’s visibility and access over a critical equipment supply chain.
JSW Energy, part of the JSW Group, is a growing energy company. The Group has diversified interests in carbon steel, power, mining, industrial gases, port facilities, aluminium, cement and information technology.
