Q4 and FY24

Results Presentation
May 7, 2024
 Forward Looking and Cautionary Statement

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JSW Energy Q4 FY24 Results Presentation 2

 Delivering Sustainable Growth
2.7 GW of Capacity Addition in FY23 & FY24 (GW)
26% CAGR

7,245
6,564

4,531 4,541 4,559 4,559 4,559

1,730

FY10 FY18 FY19 FY20 FY21 FY22 FY23 FY24

Highest ever EBITDA and 2nd Highest PAT

Highest ever EBITDA (₹ Cr) 2nd Highest PAT (₹ Cr)

1,729

1,723
5,837

FY10

FY11

FY12

FY13

FY14

FY15

FY16

FY17

FY18

FY19

FY20

FY21

FY22

FY23

FY24
FY20
FY10

FY11

FY12

FY13

FY14

FY15

FY16

FY17

FY18

FY19

FY21

FY22

FY23

FY24

JSW Energy Q4 FY24 Results Presentation Operating EBITDA and Adj. PAT are adjusted for one-offs and exceptional items
3
 FY2024 – Key Achievements

Qualified Institutional Placement

Raised ₹ 5,000 Cr Growth Capital through QIP from
marquee institutional investors to accelerate growth

Built Robust Project Pipeline

Won RE bids of 3.4 GW; 36% increase in locked-in
capacity to 13.2 GW

Fastest Revival of Stalled Thermal Power Plant

Commissioned Ind-Barath Unit 1 (350 MW)

Forayed into Energy Products and Services

- Signed BESPA for India’s largest BESS project;
- Signed Licensing agreement for WTG manufacturing
- MoU with JSW Steel for RE Power (6.2 GW) + Green H2

Sustainability
Achieved Leadership Band (A-) in CDP Climate
Change for third consecutive year

JSW Energy Q4 FY24 Results Presentation 4

 Agenda

Q4 FY24 Highlights

Operational & Financial Performance

Segment Wise Performance

Safety & Sustainability

Business Environment

Appendix

JSW Energy Q4 FY24 Results Presentation

Vijayanagar 225MW Solar Power Plant 5
 Q4 FY24 Highlights (1/2)
• Net Generation: Up by 26% YoY at 6.4 BUs driven by contribution from acquired and greenfield RE capacity
additions and higher thermal generation.
• Total RE generation is up by 124% YoY at 1.3 Bus; Total thermal generation is up by 14% YoY at 5.1 BUs
Operational • Long Term PPA Generation: Up by 21% YoY driven by higher generation at Ratnagiri and RE capacity additions
Performance • Ind-Barath: Unit-1 (350 MW) commissioned in Jan-24, under gradual ramp-up and generated 196 Mus

Generation (MUs)
Q4 FY24
Solar/Wind Thermal Outperformance

Up 26% YoY

JSW Energy Q4 FY24 Results Presentation * Acquired RE portfolio represents 1,753 MW renewable capacity acquired from Mytrah Energy 6
 Q4 FY24 Highlights (2/2)
• EBITDA of ₹ 1,292Cr surged 47% YoY resulting in 29% YoY increase in PAT to ₹351 Cr. Cash PAT during the quarter
increased 17% YoY to ₹686 Cr
• Receivables (excl. acquired RE portfolio) on DSO basis stood at 54 days; one of the lowest in recent times
Consolidated
Financial
• Best in class Balance Sheet: Net Debt to Equity at 1.3x, Net Debt to EBITDA1 at 4.5x, Net Debt to EBITDA1 (excl.
CWIP) at 2.9x.
Performance
• Cash & Cash Equivalents2 at ₹4,691 Cr

Generation
• Won RE bids having a cumulative capacity of 3.4 GW in the quarter
 Solar - bids of 2.4 GW won (i) 700 MW each from SJVN, NTPC and SECI and (ii) 300 MW from GUVNL
 Wind – 1.0 GW bid won from SECI under Tranche XVI
Robust Pipeline • Acquisition: Execution of Business Transfer Agreement for 45 MW Vashpet Wind projects (transaction completed
Fueling Growth in Apr-24)

Products and Services

• Signed Technology Licensing Agreement with SANY Renewable Energy for WTG manufacturing
• Received LoA for 6.5 KTPA Green Hydrogen production facility from SECI under SIGHT Scheme

JSW Energy Q4 FY24 Results Presentation 1. Proforma EBITDA 2. Includes unencumbered bank balances, FDs, and liquid mutual funds 7
Operational & Financial Performance

Ratnagiri Power Plant

 Consolidated Performance
Net Generation (MUs) Operational Highlights
Total Revenue (₹ Cr)
Q4 FY24
26% 27% 3% 10%
27,862 • Net Generation: Up by 26% YoY at 6.4 BUs driven by
6,397 2,806 2,879 11,941
10,867 contribution from acquired RE portfolio and greenfield
5,067 21,866
RE capacity additions, and higher thermal generation.
Short Term FY23 LT PPA generation is up 21% YoY.
88% FY24
84%
88%
5,389
92%
24,400 Long Term • RE generation is up by 124% YoY at 1.3 BUs while
4,438 20,075
Thermal generation is up by 14% YoY at 5.1 BUs
FY24
Q4 FY23 Q4 FY24 FY23 FY24 Q4 FY
• Net generation up 27% YoY, driven by higher RE and
EBITDA (₹ Cr) and Margins (%) Cash Profit After Tax* (₹ Cr) thermal generation, partly offset by lower Hydro
generation (-12% YoY)
47% 53% 17% 26%
Financial Highlights
1,292 5,837 3,237
686
587 2,570 Q4FY24
881 3,817
FY23 FY23 • Total Revenue increased 3% YoY to ₹2,879 Cr and
FY24 FY24 EBITDA at ₹1,292 Cr was up 47% YoY.
45% 35% 49% • PAT at ₹ 351 Cr increased by 29% YoY while Cash Profit
31%
for the quarter was ₹ 686 Cr, up 17% YoY
Q4 FY Q4 FY FY24

Strong EBITDA and Cashflow generation from Long-term portfolio • EBITDA increased 53% YoY to ₹5,837 Cr; Cash PAT
increased 26% YoY to ₹3,237 Cr
JSW Energy Q4 FY24 Results Presentation * Computed as PAT+ Depreciation+ Deferred Taxes +/(-) Exceptional items for operational assets 9
 EBITDA Bridge
Q4 FY24
Particulars in ₹ Cr

Thermal Solar/Wind

+47% YoY

JSW Energy Q4 FY24 Results Presentation 10

 Consolidated Financial Results
FY24 FY23 Particulars in ₹ Crore Q4 FY24 Q4 FY23

11,941 10,867 Total Revenue 2,879 2,806

5,837 3,817 EBITDA 1,292 881

49% 35% EBITDA Margin(%) 45% 31%

1,633 1,169 Depreciation 427 291

2,053 844 Finance Cost 533 233

2,150 1,924 Profit Before Tax 332 357

1,723 1,478 Profit After Tax 351 272

3,237 2,570 Cash Profit After Tax 1 686 587

10.47 8.99 Diluted EPS2 (₹) 2.14 1.66

JSW Energy Q4 FY24 Results Presentation 1 Computed as PAT+ Depreciation+ Deferred Taxes (-) Dividend received + Exceptional items; 2- Not Annualized 11
 Net Debt Movement
Particulars in ₹ Cr

Capital Work- in-Progress (CWIP)

Operational Projects

2,759 15 419 180 1,824

26,286 26,636

7,890 9,841

ND/EBITDA#
18,396 (excl. CWIP) at 2.9x
16,795

Net Debt as on New Debt Taken Forex restatement Repayment Movement in short Change in Cash Net Debt as on
Dec 31,2023 term borrowings & Cash Eq.* Mar 31,2024

Sustainable Normalised Net Debt / EBITDA is within the guided range of 3.5x-4.0x

JSW Energy Q4 FY24 Results Presentation * Includes unencumbered bank balances, FDs, and liquid mutual funds. # ND/Proforma EBITDA excluding debt on under-construction projects 12
 Robust Growth Pipeline
Generation (GW)
Energy Storage (GWh)
19.44 20.00
Under-construction 6.20
3.40

0.24 0.30 9.84 LoA/LoI 77.1

0.72 0.21 0.74
7.29 0.35 received
40.0
2.4 3.4 2.7
1.0

PCKL
SECI

2030 Target
Locked-in

with states
PSP MoU
MoU with
JSW Steel
Ind-Barath

SECI X
Operational

SECI XII

Total
SECI IX

Captive

Operational

Projects
Kutehr

MoU with

FY2030 Target

Total
Pipeline

JSW Steel
Wind

Group
Wind

Wind
Wind

by CY24
Current

Target
Plant (MW) PPA Capex
commissioning
SECI IX (810) 25- year; SECI
SECI X (454) 25- year; SECI BESS – PPA signed for 250 MW/500 MWh
Progressive Total: ₹19,360 Cr with SECI
Group Captive - JSW Steel (962) commissioning Committed : ~₹18,652 Cr
25- year; JSW Steel
225MW Solar operational Spent: ~₹15,046 Cr PSP – LoI received for 2.4 GWh from Power
35- year; Haryana Company of Karnataka Limited
Kutehr HEP (240) Sept -2024
Discom
Ind-Barath (350x 2) Q1 FY25 Merchant

SECI XII (300) March 2025 SECI ~2,200 Cr

Pipeline Projects - LoA/LoI received and PPA is yet to be signed
JSW Energy Q4 FY24 Results Presentation Current capacity includes 45 MW of Wind Assets (Vashpet) acquired in Apr-24 13
 Superior Financial Risk Profile
Net Debt (₹ Cr) Net Worth (₹ Cr)* & Cash Returns (%)
26,286 26,636 19,877 20,976 20,832
24,260 18,392 18,629 19,111
22,180 22,904 20% 21%
20% 20%
18% 18%
9,840 13,446 14,177
14,859 15,336 15,501
14,061

Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24

Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Adjusted Net Worth ** Net Worth (₹ Cr) Cash Return on Adj. Net Worth (%)

Leverage Ratios Wt. Average Cost of Debt

#
ND/TTM Proforma EBITDA ND/EBITDA ND/Equity

4.4 4.7 4.6 4.6 4.5 Average Cost up by 28 bps in FY24

2.3 8.68% 8.64%

3.7 3.8 3.5 8.58%
3.2 8.51%
2.9
0.5 8.36%
1.2 1.2 1.2 1.3 1.3 8.29%

Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24

Robust balance sheet & best-in-class financial metrics

* Net Worth is impacted by change in value of listed equity investments through Other Comprehensive Income ** Adjusted for value of investments (net of taxes)
JSW Energy Q4 FY24 Results Presentation # ND/Proforma EBITDA excluding debt on under-construction projects 14
 Healthy Trade Receivables

Trade Receivables* (₹ Cr )
Operational Highlights
• Receivables (excl. acquired RE Portfolio) decreased by 21%
21%
YoY and receivables in DSO terms also improved YoY to 54
1,799 days

1,429 • All plants placed favourably in States’ Merit Order Dispatch.

o Further, Hydro plants under ‘Must-run status’ with no
scheduling risk
• No history of any bad debts from routine long term trade
receivables
• Payment security mechanism in force for power tied under
Mar 31, 2023 Mar 31, 2024 long term PPA with discoms

Receivable Days 60 54 • Recovery of late payment surcharge in case of delayed

payments from discoms

JSW Energy Q4 FY24 Results Presentation *Includes Unbilled Revenue. Excluding receivables related to acquired RE Portfolio which are reported separately 15
 Segment Wise Performance

Vijayanagar Thermal Power Plant- Control Room

 Thermal Assets | Q4 FY24 Highlights
Overview Offtaker Profile Operational Assets

Open, Rajasthan,
34% 28%

Total Thermal 3,858

Capacity
3,858* MW MW

MSDECL,
8%
Ratnagiri Barmer Vijayanagar Ind - Barath
Group Captive, 30%

Installed Capacity 1,200 MW 1,080 MW 860 MW 700 MW

Unit 1 (350 MW) operational
Operational Capacity
PPA tied 1,105MW 1,080 MW 338 MW Merchant
3,508* MW
Fuel Type Imported Coal Lignite Imported Coal Domestic Coal

LT 1,668 MUs (11% YoY) 1,754 MUs (1% YoY) 634 MUs (3% YoY) -
Under Construction Net Generation (MUs)
Ind-Barath
Total 2,097 MUs (20% YoY) 1,754 MUs (1% YoY) 1,018 MUs (2% YoY) 196 MUs

350 MW
LT 76%/(90%) 83%/(87%) 99%/(100%) -
(Unit-2) PLF/(Deemed PLF)
Total 87%/(100%) 83%/(87%) 59%/(59%) 63%/(70%)

~72% of Current Installed Thermal Capacity of 3,508 MW is tied-up under Long-Term PPA
JSW Energy Q4 FY24 Results Presentation *Including 18 MW TPP at Nandyal; Ind-Barath Unit-1 (350 MW) was commissioned in the quarter 17
Thermal Assets| Q4 FY24 Highlights (2/2)
Net Generation (MUs) Thermal : PLF – long term
Operational Highlights
14% 17%
94% 90% • Total Net Generation up 14% YoY at 5.1 BUs,
85% 86%
5,088 18,526 79% 82% 76% driven by higher LT generation across all plants
4,482 72%
15,819
and increased ST volumes
Short

82%
Term • Short Term generation at 1,008 MUs in Q4 FY24
86% 80% 89%
4,080 14,113 15,146 Long vs 629 MUs in Q4 FY23
3,853
Term
PLF Deemed PLF PLF Deemed PLF
• Long Term generation was up 6% YoY in the
Q4 FY23 Q4 FY24 FY23 FY24 quarter. LT PLF remains healthy at 82%
Q4 FY23 Q4 FY24 FY23 FY24

Segmental Revenue from Operations1 (₹ Cr) EBITDA Excl. Other Income (₹ Cr) and Margins (%)
Financial Highlights
9% 7%
36%
30% • Totaloperating thermal revenue at ₹ 2,139 Cr
745 down 9% YoY due to lower realization on account
2,353 8,614 2,541
2,139 7,996 of lower fuel cost (which is pass through in
548 1,949
nature)
• EBITDA excl other income increased 36% to ₹ 745
Cr driven by higher LT contribution and strong
23% 35% 23% 32%
merchant volumes
Q4 FY23 Q4 FY24 FY23 FY24 Q4 FY23 Q4 FY24 FY23 FY24 • Full year Thermal EBITDA increased 30% to
₹ 2,541 Cr
JSW Energy Q4 FY24 Results Presentation 1 Thermal Assets exclude JPTL 18
 Renewable Assets | Presence across all modes of generation
Total 9,382 MW Operational Assets – 3,782 MW Under Construction – 2,200 MW Pipeline – 3,400 MW

Expected to be operational by CY 2024

4,676 3,075 1,631
MW MW MW Solar MW

Wind Solar Hydro SJVN 700

Offtaker Profile
Wind SECI XIII 700
Pipeline,  Acquired RE Wind
Open Capacity,
36% Hydro (1,331)
1%
Haryana, 3%
Solar Wind
 SECI X (248) GUVNL 300
Raj, 3%  Karcham Wangtoo  Vijayanagar Captive
 SECI IX (718)
HP, 3% (1,091)  SECI IX (92) (225)
9,382  SECI X (205)
AP, 4%  Baspa (300)  Vaspet (45)  Acquired RE Solar Hydro NTPC 700
MW (422)  Captive JSW Steel
Telangana,
5% SECI,  Kutehr (240) (737)
 Others (28)
Others, 19%  SECI XII (300) Wind MW
5%
Group Captive, 11% PTC, 11%

Net Generation LT 369 MUs 584 MUs 357 MUs SECI XVI 1,000
(MUs) Total 369 MUs 584 MUs 357 MUs Under-Construction Pipeline

Capacity % share MW 1,391 MW 1,716 MW 675 MW 240 MW 1,960 MW 3,400 MW

in RE % 15% 18% 7% 3% 21% 36%

All under construction projects are tied-up with long term PPA
19
 Renewable Assets |Q4 FY24 Highlights
Installed Green Capacity (MW) Net Generation (MUs)

124% 54% Operational Highlights

3,737
9,336
• Net generation during Q4FY24
1,309
3,406
increased by 124% YoY and 54% YoY
6,047 Short Term during FY24 driven by contribution
585 100% 99% from acquired and greenfield RE
9,254 Long Term
1,309 99%
100% capacity additions; party offset by
5,962
585 lower generation at Hydro power
plants
Q4 FY23 Q4 FY24 Q4 FY23 Q4 FY24 FY23 FY24

Segmental Revenue from Operations1 (₹ Cr) EBITDA Excl. Other Income1 (₹ Cr) Financial Highlights

124%
• Total operating RE revenue increased
119% 119% 138%
119% YoY to ₹566 Cr driven by
566 3,273 2,731
398 Acquired RE portfolio and greenfield
341 Solar/Wind 277 RE assets
114 80 Solar/Wind

1,562
Acquired RE 1,300
• Operating EBITDA at ₹398 Cr was up
259 282 1,493 Acquired
Portfolio 167 1,217 138% YoY. Acquired RE portfolio
161 220 93 RE Portfolio
69 4 2
4 Hydro 56 Hydro
contributed ₹ 220 Cr in the quarter
1,328 1,370 2
186 171 1,122 1,154 (₹244 Cr incl other income)
109 98

Q4 FY23 Q4 FY24 FY23 FY24 Q4 FY23 Q4 FY24 FY23 FY24

1 Includes consolidation adjustments

JSW Energy Q4 FY24 Results Presentation For additional details refer appendix section
20
 Safety & Sustainability

JSW Energy, Barmer

 Continued Focus on Health & Safety Excellence
Awards &
LTIFR of 0.15 considering all operational plants of JSW Energy for FY24
Recognitions
Contractor Safety Management
All contractors of major JSW Plants evaluated under the JSW CARES program
85% contractors have achieved 3 Star rating or more in this Assessment
51% have achieved 5 Star (Barmer, Ratnagiri, Solar Vijaynagar)

91,800+ Cumulative Safety Observations Resolved in FY24

Influencing ‘positive safety behavior’ of our workforce by reporting smallest of the safety Work at height Safety Awareness
considerations thereby avoiding any major / minor incident

GWO (Global Wind Organization) Training for WTG project Teams

 Behavior Based Safety Training completed for Target employees
 100% of Target workers and 98% of target employees have completed GWO training
 Training extended to the employees of acquired RE portfolio

Enhancing Safety for Employees, Contractors & Community

 British Safety Council 5 STAR Safety Audit preparation and internal Audits ongoing at JSW Hydro and
Barmer Plants.

MOT fire fighting Mock Drill at Barmer

JSW Energy Q4 FY24 Results Presentation 22
 Sustainability: Framework and Policies
17 Focus Areas with 2030 Targets from 2020 as Base Year Governance & Oversight by
Sustainability Committee
Climate Change: Renewable Power: Biodiversity:
Committed to being carbon Enhance the renewable power No Net Loss for Biodiversity Independent Mr. Sunil Goyal
neutral by 2050 to 2/3rd of our Total Installed 2 Directors
Ms. Rupa Devi Singh
Capacity
Reduce our carbon emissions
by more than 50%
1 Executive
Director
Mr. Sharad Mahendra
Waste Water: Waste: Water Resources:
Zero Liquid Discharge 100% Ash (Waste) utilization Reduce our water consumption
per unit of energy produced by
ESG Ratings – best amongst peers
50%
CDP* : A- (Leadership Level)

Sustainalytics: 23.2 (Medium Risk)

Operational Resources Social Local Indigenous Human Rights S & P Global ( DJSI) : 71/100
Health & Safety Sustainability Considerations People
FTSE4Good Index constituent
Carbon Neutrality by 2050
Supply Chain Employee Committed to set
Sustainability Wellbeing Air Emissions Business Ethics Cultural Heritage Energy science based targets to
keep global warming to
1.5°C under SBTi
Aligned to Integrated Reporting since FY19
National &
International
Frameworks
FY19 FY20 FY21 FY22 FY23

JSW Energy Q4 FY24 Results Presentation ESG Data book

*based on CDP climate change rating 2023. CDP water security rating 2023 is B (Management). 23
 Sustainability: Targets and Strategy
FY20 Improvement FY30 FY24 Strategic Initiatives and Approach
SD Targets
Actuals (FY20 to FY30) Targets Actuals
 TCFD – Identified associated short tem , medium term and Long term risks
 GHG Emissions  Supply Chain Sustainability – development of Digital Platform for value chain
Climate 0.76 71% 0.215 * 0.627 partners under progress.
Change tCO2e/ MWh
 Increased share of RE for decarbonization - Total RE operational capacity increases
from 3,406 MW (Q4 FY23) to 3,780 MW (Q4 FY24)
 Maintaining zero liquid discharge across operations
 Optimising utilisation of rain water harvesting system
Water  Specific fresh water 46% 0.591
Security
1.10 0.967  Installation of technology for operating cooling towers with higher Cycles of
intake (m3/MWh)
Concentration with modified chemical regime
 Reuse of treated effluent of Sewage Treatment Plan for horticulture
 Integrated Strategy towards efficient waste management – Ash Management ,
 Specific Waste (Ash) 0.070 54% 0.032 0.049 recycling of waste water , handling hazardous waste through authorized recycler.
Waste Generation (t/MWh)  Utilisation of low ash coal in Ratnagiri and Vijayanagar
 Waste Recycled - Ash 100 - 100 100  Re-utilisation of pond ash as well as Bottom ash in Boiler
(%)
 45,000 MT Capacity Ash Silo constructed in Ratnagiti to export the Fly Ash through sea
route. About 19,300 MT of Fly Ash exported through sea route in FY24.
Specific process
emissions(Kg/MWh)  Ensuring ESP (Electrostatic Precipitator) Fields availability
Air  PM 0.16 0.107
67% 0.053  Optimising Lime dozing system efficiency
Emissions
 SOx 1.78 61% 0.683 1.19
 Process efficiency improvements
 NOx 1.01 63% 0.373 0.655
 Implementation of Bodiversity Assessment plan at our operating plants in a phasewise
Achieve manner to achieve No Net Loss of Biodiversity by 2030.
 Biodiversity at our -
Biodiversity ‘no net loss’  Increased green cover across operations
operating sites
of  Barmer Plant won Prestigious CII-ITC Sustainability Award for Excellence in Biodiversity
biodiversity  Implementation of Biodiversity Management plan at Barmer Plant.
JSW Energy Q4 FY24 Results Presentation * Aligned with SBTi 24
 Sustainability: Q4 FY24 Performance
Key Highlights Performance
• Increased share of renewable energy for deep decarbonisation Ash Utilisation (%)
Climate • Addition of 374 MW (FY24) renewable portfolio mix to reduce the GHG emission,
Change a step towards our “ Net Zero” commitment by 2050 or earlier. 100% 100% 100% 100%
• Continuous focus on process improvements to reduce GHG emission

• Maintained zero liquid discharge across operations

• Optimizing utilization of rain water harvesting system FY22 FY23 FY24 FY24
Water
Water
Security
Security • Reuse of treated effluent of Sewage Treatment Plant for horticulture Target
• Dry cleaning adopted instead of wet module cleaning resulted in significant saving
of ground water ( approx : 2400 m3 per month) CO2 intensity (tCO2e/MWh) PM Emissions (kg/MWh)
0.68 0.68
0.627 0.140
• Reutilising pond ash as well as bottom ash in Boiler. 0.60 0.122 0.107 0.110
Waste • Continue 100% Ash utilization initiatives at all plants through tie-ups with
cement factories & similar businesses

FY22 FY23 FY24 FY24 FY22 FY23 FY24 FY24

• Ensuring ESP (Electrostatic Precipitator) Fields availability Target Target
Air • Process efficiency improvements being done in all plant locations
Emissions • Lime Dozing system availability and parameters optimization at Barmer to SOx Emissions (kg/MWh) NOx Emissions (kg/MWh)
reduced air emissions
1.55 0.81
1.23 0.69 0.655 0.65
• Biodiversity Assessment – Phase 2 is completed for Ratnagiri Plant 1.19 1.15

Biodiversi • Increase in green cover at all operations to achieve ‘No Net Loss’ of Biodiversity by
Biodiversity 2030.
ty
• Barmer Plant won Prestigious CII-ITC Sustainability Award for Excellence in FY22 FY23 FY24 FY24 FY22 FY23 FY24 FY24
Target Target
Biodiversity
JSW Energy Q4 FY24 Results Presentation FY 2024 Targets include generation from Ind-Barath Thermal Power Plant for part of the year 25
 Sustainability: Empowering Our Communities

Ratanagiri
JSW Energy Q4 FY24 Results Presentation 26
Sustainability: Empowering Our Communities
Health and Nutrition Sports Promotion
• 80,000+ people benefitted • 4,500+ lives touched
• 11,000 people in 16 remote villages • 94 trainees supported under Project
reached through a Mobile Health Unit in Shikhar, 115 participants in competitions
Barmer
• 3,100 students in government schools in
• 5,346 patients received health services at Dharapuram and Tuticorin provided
a multi-specialty health camp in Sholtu sports kits

Skills and Livelihoods Water, Environment &

• 1,160 lives touched Sanitation
• 460+ women artisans trained under
Project Charkha in Sholtu and Kutehr • 90,000+ lives touched
• 500+ women trained under the • 1,800 people benefitted from increased
applique work project in Barmer water availability after rejuvenation of a
lake in Vadagapatti

Education Agri and Allied Livelihoods

• 6,000+ students benefitted
• 1,000+ farmers benefitted
• 2,243 students in 21 schools benefitted
• 890 farmers engaged through organic
under Foundational Literacy and
and medicinal farming initiatives
Numeracy and extracurricular activities
• 45 students in 5 anganwadis given
access to improved educational facilities

Health & Nutrition Water & Waste Agri-livelihoods Education Women’s BPO & Skill Enhancement Art, Culture & Sports
Environment Management Livelihoods Heritage
JSW Energy Q4 FY24 Results Presentation 27
 Investor Relations Contact:
ir.jswenergy@jsw.in

ESG Data Profile: Link

JSW Energy, Ratnagiri 28

Business Environment

JSW Barmer
 Indian Economy
Real GDP Growth (%)
22.6
12.8
9.9 8.2 8.1 8.4
5.5 4.5 5.5 4.3 6.2
3.3 2.9 1.8 3.3
• India continues to see resilient growth
o Real GDP growth for quarter Dec-23 stood at 8.4% YoY
-5.8
o PMI: Manufacturing (Mar-24: 59.1) and Services (Mar-
-23.1 24: 60.3)
o GST collection for Mar’24 witnessed the second highest
Mar-20

Mar-21

Mar-22

Mar-23
Sep-21
Sep-20

Sep-22

Sep-23
Dec-19

Dec-20

Dec-21

Dec-22

Dec-23
Jun-20

Jun-21

Jun-22

Jun-23
collection ever of Rs 1.78 lakh crore, with a 11% YoY
growth. For the full year gross GST collection increased
12% YoY
GST Collection (₹ Lakh Cr) PMI – Manufacturing & Services
• Inflation
2.0 o In March, CPI eased to a 10-month low of
70
1.8 65 4.85% and remains within the RBI’s tolerance mark
1.6 60
55 o On the other hand, growth in the index of industrial
1.4 50 production (IIP) expanded to 5.7 % in February-24
1.2 45
40
1.0
35 PMI Manufacturing PMI Service
0.8 30
Mar-24
Mar-22

Mar-23
Jun-22

Jun-23
Sep-21

Dec-21

Sep-22

Dec-22

Sep-23

Dec-23

Mar-22

Mar-23

Mar-24
Jun-21

Jun-22

Jun-23
Sep-21
Dec-21

Sep-22
Dec-22

Sep-23
Dec-23
IMF projects India’s GDP growth at 7.8 % for FY24
JSW Energy Q4 FY24 Results Presentation Source: Reserve Bank of India (RBI), Monetary Policy Committee (MPC), IMF, Press Information Bureau India 30
Power Demand increased by 7.5% in FY24
Power Demand in BUs Power Demand Growth (% YoY)
165 40%
• All India demand during Q4 FY24 at 402 BUs
155
30% increased by 7.4% YoY because of heating
145 139 BUs
135 20% requirements in Jan/Feb due to cold waves
125 10% 8%
115 in the North followed by cooling
105 0%
requirements in March due to surge in
95 -10%
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar temperature. For FY24, demand increased
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
by 7.5% YoY to 1,627 Bus.
FY 2024 FY 2023 FY 2022 FY 2024 FY 2023
• Demand in South (113 BUs) increased by
Peak Demand in GW Power Demand by Region in BU 10% YoY followed by demand in North (108
260 BUs) increasing by 9% YoY in Q4 FY24.
240 1,627 402
222 GW 1,513 374
220 212 47 • Total demand met during Q4 FY24 stood at
200 202 45
421 East & NE 401 BUs, up 8% YoY in Q4 FY24 and FY24.
180 371 113
104
South
160
140 477 517 West • The peak demand of 243.3GW was
126 133
120 North
witnessed during FY24 in Sep’23.
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar India
463 477 100 108
Q1 Q2 Q3 Q4

4 year range FY 2024 FY 2023 FY 2022 FY 2023 FY 2024 Q4 FY2023 Q4 FY2024

JSW Energy Q4 FY24 Results Presentation Source: Central Electricity Authority (CEA) 31
 Overall Generation Increased by 7.1% YoY in FY24
Power Generation in BUs Power Generation Growth (% YoY)
30%
165
155 148 BUs 20%
145 • Overall generation during Q4 FY24 at
135 8%
10% 430 BUs increased by 7.3% YoY. For
125
115 0% FY24 generation grew at 7.1% YoY.
105
95 -10%
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar • Share of thermal in overall generation
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 increased to 80% in Q4 FY24 vs 78% in
FY 2024 FY 2023 FY 2022 FY 2024 FY 2023 Q4 FY23 with net generation of 345
BUs, up 10% YoY resulting in PLFs of
Power Generation by Source in BU
72.1% in Q4 FY24.
1,625 1,738 401 429 Others • Generation from large hydro down by
13% 13% 13% 12% 20% YoY in Q4FY24 and down by 17%
10% 8% 6% 4% Renewables
for FY24; generation from renewables
Hydro up by 5% YoY in Q4 FY24 and up by
74% 76% 78% 80%
Thermal
11% for FY24.

India
FY 2023 FY 2024 Q4 FY2023 Q4 FY2024
JSW Energy Q4 FY24 Results Presentation Source: Central Electricity Authority (CEA), National Power Portal 32
India’s installed capacity stands at 442 GW as on Mar-24
Sector-wise Installed Capacity Segment-wise Installed Capacity Renewable Capacity Breakdown
144
2%
16
11%
24% 24%
State Thermal 46 Other RES

Nuclear Wind
Private 442 GW 442 GW 33%
Solar
Hydro
55% 82
Central
Renewables
52%

Overall segment wise net capacity additions (GW) Renewable Capacity Additions (excl. Hydro) GW
18.5
25.9 0.2
15.5 15.3
0.1 1.4
0.4 0.2
17.3 16.6
0.5 0.1 15.0
12.0 18.5 7.4
13.9 12.8
0.5 0.4
7.4 15.5 15.3
5.5
4.1 5.9 3.3
1.4 1.2 1.6 1.1 2.3
FY 2021 FY 2022 FY 2023 FY 2024 FY 2021 FY 2022 FY 2023 FY 2024
Thermal Renewables Hydro Nuclear Total Wind Solar Other RES Total RES

JSW Energy Q4 FY24 Results Presentation Source: Central Electricity Authority (CEA) 33
 Merchant Power – Day Ahead Market
Monthly Average Merchant Tariff (₹/unit) Linear Trend - Monthly Avg Price (₹/kwh)
11.0 FY24
12
10 9.0 • Day Ahead Market (DAM) prices were down
8 7.0 by 12% YoY as the average tariff recorded for
6 5.0 FY24 was ₹ 5.24/KWh vs ₹5.94/KWh in the
4 ₹ 3.9 3.0 corresponding period last year
2 1.0
• The cleared volume in DAM was 53,353
Oct

Jan

Feb
Sep

Jul-09

Jul-11

Jul-13

Jul-15

Jul-17

Jul-19

Jul-21

Jul-23
Apr

Aug

Nov
May

Jul

Dec

Mar
Jun

MUs, up by 4.3% YoY and total cleared

FY 2024 FY 2023 FY 2022
volumes were 101.7 BUs, increased 12% YoY

DAM Market Cleared Volume (MUs) Total Cleared Volume (MUs) Q4 FY24
7500 9500
• DAM prices were reduced approximately
6500
8500 20% YoY as the average tariff recorded for
5500
7500 8,671 MUs FY24 was ₹ 4.89/KWh vs ₹6.08/KWh in the
4500 corresponding period last year
4,653MUs
6500
3500 • The cleared volume in DAM was 14,916
5500
2500 MUs, increased 4.3% YoY and total cleared

Oct
Sep

Feb
Aug

Jan

Mar
Apr

Nov
May

Jul

Dec
Jun
Oct

Jan

Feb
Sep
Apr

Aug

Nov
May

Jul

Dec

Mar
Jun

volumes were 26.9 BUs, up 11% YoY

FY 2024 FY 2023 FY 2022
FY 2024 FY 2023 FY 2022
JSW Energy Q4 FY24 Results Presentation
Source: Indian Energy Exchange (Day-Ahead Market); *Cleared Total Volume includes DAM, TAM and RTM for conventional power 34
 Appendix

Barmer Thermal Power Plant

 Operational Performance – Net Generation
Net Generation (MUs)
Capacity Q4 FY24 Q4 FY23 Change YoY FY24 FY23 Change YoY
Location (Current Capacity)
% % %
LT 91% 1,668 1,506 11% 6,491 5,123 27%
Ratnagiri (1,200 MW)
Total 100% 2,097 1,752 20% 7,850 5,713 37%
Barmer (1,080 MW) LT 100% 1,754 1,730 1% 6,329 6,544 -3%
LT 37% 634 615 3% 2,242 2,434 -8%
Vijayanagar (860 MW)
Total 100% 1,018 998 2% 4,067 3,550 15%
Ind-Barath (350 MW) Total 100% 196 NA NA 196 0 NA
Nandyal (18 MW) LT 100% 23 2 NA 84 12 NA
LT 79% 4,080 3,853 6% 15,146 14,113 7%
Total Thermal (3,508 MW)
Total 100% 5,088 4,482 14% 18,526 15,819 17%
LT 97% 369 403 -8% 4,831 5,510 -12%
Hydro (1,345 MW)*
Total 100% 369 403 -8% 4,913 5,595 -12%
Solar (253 MW) LT 100% 158 149 6% 555 412 35%
Wind (338 MW)** Total 100% 170 23 NA 531 29 NA
Acquired RE - Wind (1,331 MW)*** Total 100% 414 5 NA 2,581 5 NA
Acquired RE - Solar (422 MW) Total 100% 199 5 NA 756 5 NA
LT 91% 5,389 4,438 21% 24,400 20,075 22%
TOTAL
Total 100% 6,397 5,067 26% 27,862 21,866 27%

*Includes free power to HPSEB ** Generation from SECI IX and SECI X progressive commissioning *** On Proforma basis as 2 SPVs were consolidated during Q1 FY24
JSW Energy Q4 FY24 Results Presentation LT : Long Term. NM : Not meaningful Figures rounded off to nearest units digit 36
 Operational Performance – PLF
PLF/CUF
Capacity Q4 FY24 Q4 FY23 FY24 FY23
Location (Current Capacity)
% % % % %
LT 91% 76 (*90) 71 (*98) 74 (*93) 60 (*87)
Ratnagiri (1,200 MW)
Total 100% 87 (*100) 74 (*98) 81 (*98) 59 (*84)
Barmer (1,080 MW) LT 100% 83 (*87) 82 (*87) 75 (*78) 77 (*80)
LT 37% 99 (*100) 99 (*100) 88 (*92) 98 (*98)
Vijayanagar (860 MW)
Total 100% 59 (*59) 58 (*59) 58 (*60) 51 (*51)
Ind-Barath (350 MW) Total 100% 63 (*70) NA 63 (*70) NA
Nandyal (18 MW) LT 100% 65 (*100) 5 (*100) 60 (*100) 9 (*98)
LT 79% 82 (*90) 79 (*94) 76 (*86) 72 (*85)
Total Thermal (3,158 MW)
Total 100% 73 (*79) 72 (*84) 66 (*73) 63 (*74)
LT 97% 13 14 43 49
Hydro (1,345 MW)
Total 100% 13 14 42 48
Solar (253 MW) LT 100% 29 29 26 22
Wind (338 MW) Total 100% 25 30 29 30
Acquired RE - Wind (1,331 MW) Total 100% 15 8 23 8
Acquired RE - Solar (422 MW) Total 100% 22 25 21 25
LT : Long Term; ST: Short Term * denotes Deemed PLF

JSW Energy Q4 FY24 Results Presentation 37

 Entity-wise Financial Results
Entity-wise Revenue from Operations
Particulars in ₹ Crore Q4 FY24 Q4 FY23 FY24 FY23
Standalone 1,236 1,647 5,129 5,739
JSW Energy (Barmer) 809 748 2,880 3,026
Ind-Barath 123 NA 127 NA
JSW Hydro Energy 171 186 1,370 1,328
Acquired RE Portfolio 294 4 1,574 4
JSW Renewable Energy (Vijayanagar) 49 50 178 141
JSW Renew Energy Two (SECI X) 38 6 129 7
JPTL 17 19 69 71
Consolidated* 2,756 2,670 11,486 10,332

Entity-wise EBITDA (Including Other Income)

Particulars in ₹ Crore Q4 FY24 Q4 FY23 FY24 FY23
Standalone 522 391 1,929 1,487
JSW Energy (Barmer) 258 244 913 908
Ind-Barath 30 NA 31 NA
JSW Hydro Energy 136 134 1,304 1,170
Acquired RE Portfolio 244 3 1,403^ 3
JSW Renewable Energy (Vijayanagar) 45 77 163 140
JSW Renew Energy Two (SECI X) 36 5 123 5
JPTL 16 18 69 70
Consolidated* 1,292 881 5,837 3,817

JSW Energy Q4 FY24 Results Presentation * After inter-company adjustments and eliminations ^ Proforma EBITDA for FY24 as two SPVs were consolidated during Q1 FY24
38
 Cash Returns on Adjusted Net Worth
₹ Cr (Unless mentioned otherwise)

Quarter ended Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24

Reported PAT 560 466 180 272 290 850 231 351

Add: Depreciation 289 294 295 291 398 409 400 427

Add/(less): Deferred Taxes 84 42 14 24 55 89 (4) (92)

(Less): Dividend Received - (122) - - - (24) - -

Add/(less): One-offs* (120) 0 - - - (144) - -

Cash PAT 813 681 489 587 743 1,180 628 686

Cash PAT (TTM) 2,697 2,767 2,625 2,570 2,500 2,999 3,138 3,237

Adjusted Net Worth** 12,952 13,491 13,446 14,177 14,061 14,859 15,336 15,501

Cash Returns on Net Worth (%) 21% 21% 20% 18% 18% 20% 20% 21%

Strong cash returns of >20% translates to TTM cash profits of >₹3,200 Cr

*Exceptional items ₹ 120 Cr represents reversal of loss allowance made in earlier years on loan given to a party; ₹144 Cr for Sep-23 represents after-tax effects of Hydro True-up
JSW Energy Q4 FY24 Results Presentation ** Adjustment in net worth by excluding the value of shares of JSW Steel 39
 Finance Cost & PAT Movement
Finance Cost (YoY; ₹ Cr)

Profit After Tax (YoY; ₹ Cr)

JSW Energy Q4 FY24 Results Presentation 40

JSW Energy – Presence Across the Value Chain
Well placed to achieve 10 GW of generation capacity ahead of stated timeline of 2025 with foray into New Age Businesses

Power Generation Energy Storage Energy Products & Services

3.4 GWh of locked in capacity Solar Module & Green H2

Wind, Thermal,
Green Hydrogen
3.6 GW, 3.9 GW, Battery Storage & Derivatives
37% 39%
1.0 GWh 3,800 TPA

Wind Turbine
Manufacturing –
Technology licensing
agreement with SANY
Renewable Energy

Solar Module
manufacturing
Hydro Pump Storage
Hydro,
1.6 GW,
Solar,
0.7GW, 2.4 GWh 1.0 GW
17% 7%

41
 Developed a Pan India Footprint of Diverse Asset Base
Operational Capacity by CY 24 (9,840 MW)

Punjab Himachal Pradesh Wind Hydro

50 MW 1,631 MW
Solar BESS
Rajasthan Madhya Pradesh
Thermal PSP
258 MW 1,080 MW 30 MW
Green Hydrogen

1,000 MWh

Gujarat Odisha
78 MW 700 MW
Maharashtra
Telangana
492 MW 1,200 MW
101 MW 327 MW

Karnataka
Andhra Pradesh
699 MW 860 MW
365 MW 18 MW 10 MW
2,400 MWh 278 MW

3,600 TPA Tamil Nadu

1,654 MW
Note: Map of India representation – scaling may not be accurate 42
 Well Diversified Portfolio – Focused on Maximising Cash Returns
Capacity Breakdown Diversified Offtakers
Generation 13,240 MW PPA to be Group
signed *, Captive,
Pipeline 26% 16%
Installed 7,290^ MW
3,400 MW
26%
Solar 2,400 MW Open Installed
Wind 1,000 MW Thermal 3,508 MW Current Exposure
capacity – 15%
Wind 1,716 MW 13,240 MW SECI, 14% to Group Captive
13,240 MW Hydro 1,391 MW Open - 19%
55% Solar 675 MW Capacity,
Under-construction 11%
2,550 MW
19% Others, 5% Rajasthan,
Wind 1,960 MW
HP, 2% 10%
Thermal 350 MW
Hydro 240 MW MH, 3% PTC, 8%
AP, 3% Telangana,
3%
Storage 3.4 GWh locked in Open Capacity
12%

BESS 29%
1.0 GWh SECI
Hydro PSP 18% PCKL
3.4 GWh 71% 2.4 GWh 3.4 GWh
70%

JSW Energy Q2 FY24 Results Presentation * LoA/LoI received for this capacity and PPA to be signed ^ Installed capacity includes 45 MW of wind assets (Vashpet) acquired in April -24 43
 JSW Energy Company Overview
– Corporate Structure
Ratnagiri – 1,200 MW
JSW Energy Limited Vijayanagar – 860 MW Hydro Entities
Nandyal – 18 MW
13,240 MW Solar/Wind Entities
Solar – 10MW
Products & Services
Total – 2,088 MW

JSW Neo Energy *

JSWEBL – 1,080 MW
9,372 MW
Ind-Barath – 700 MW

Energy Generation Portfolio

JSW Hydro Energy JSW Renewable Energy JSW Renew Energy

JSW Renew Energy JSW Renew Energy JSW Renewable Energy Acquired RE portfolio
Limited (1,391 MW) JSW Energy (Kutehr) (Vijayanagar) Three Limited
Limited Two Limited (Dolvi) Limited
Limited (240 MW) Limited (1,753 MW - Acquired)
( Karcham & Baspa ) (810 MW SECI-IX) (454 MW SECI-X) (96 MW Captive) SECI XII 300 MW
(866 MW Captive)

JSW Renew Energy

Eight Limited; and JSW Renew Energy Ten JSW Renew Energy JSW Renew Energy JSW Renew Energy JSW Renewable Energy
JSW Renew Energy Limited Eleven Limited Thirteen Limited (Raj) Limited (Coated) Limited
Nine Limited (300 MW GUVNL) (700 MW SECI-XIII) (700 MW NTPC) (700 MW SJVN) (45 MW - Acquired)
(1,000 MW SECI-XVI)

Products & Services

PSP Advanced high

BESS – SECI Pilot Green Hydrogen
• LoI for 2.4 GWh efficiency solar
(3,800 TPA) & Its
(500MW/1000MWh) • MOUs signed for module (Awarded
Derivatives
80 GWh capacity under PLI)
Vijayanagar Solar Power Plant
44
* Corporate structure post Acquisition and restructuring. Includes 18 MW of operational solar power plant for JSW group captive. All subsidiaries shown are wholly owned subsidiaries except RE CPP
 JSW Neo - Acquired RE Portfolio
Net Generation (MUs) PLF

Wind Solar Operational Highlights

594 613 3,337 • Net generation increased 3% YoY in

2,980
Q4 FY24 driven by higher machine
208 199 756
721
Solar
availability in wind, partly offset by

Wind lower solar radiation

414 2,581
386 2,259
• For FY24 net generation increased
12% YoY with focused interventions
Q4 FY23 Q4 FY24 FY23 FY24

Financial Highlights
Segmental Revenue from Operations (₹ Cr) EBITDA (₹ Cr)
• During Q4 FY24 revenue of ₹282 Cr
1,403 resulting in EBITDA of ₹244 Cr
244
282 1,562 • For FY24, Revenue at ₹ 1,562 Cr and
EBITDA stood at ₹ 1,403 Cr

Q4 FY24 FY24 Q4 FY24 FY24

• FY24 generation and EBITDA are on proforma basis as two SPVs were acquired during Q1FY24
JSW Energy Q4 FY24 Results Presentation Q4 FY23 & FY23 numbers are unaudited and on proforma basis 45
 Acquired RE – FY24 Performance Improvement On Track
Wind Generation (MUs)
36 Wind Machine Availability (%)
302 2,581
3 9 4
+900 bps 96.9% +710 bps
2,259 96.1%

87.9% 89.0%
335 MUs increased due to
focused interventions

FY 2023 MA Benefit GA Loss Maniyachi Cyclone Wind FY 2024 Q4 FY23 Q4 FY24 FY2023 FY2024
Site Impact impact
restoration

Solar Generation (MUs) Solar Plant Availability (%)

13 +1 bps
756 +184 bps
3 99.4% 99.4% 99.3%
26
7

721
39 MUs increased due to 97.4%
focused interventions

FY 2023 Performance GII Gain Force DC Added FY 2024

Ratio gain Shutdown
Q4 FY23 Q4 FY24 FY2023 FY2024
JSW Energy Q4 FY24 Results Presentation Q4 FY23 & FY23 numbers are unaudited 46
 Receivables Cycle Improving
Strong collection in Acquired RE Portfolio’s Receivables*
Particulars in ₹ Cr
797 50% YoY improvement

403 399

Mar-23 Dec-23 Mar-24

Focused O&M Interventions leading to strong billing/collection growth

158%
145% Strong generation and billing
97% 106% growth

Continued focus on
collection efficiency supports
further reduction in the
Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 receivables

Billing (Indexed to 100) Collection Including LPS

Acquired
JSW RE Wind
Energy (Chakla
Q4 FY24 Maharashtra)
Results Presentation * Receivables of acquired RE assets post provisions 47
 JSW Neo - Hydro Q4 FY24 Highlights
Net Generation (MUs) Hydro : PAF and PLF
12%
8% Operational Highlights
5,595 95% 92%
4,913 104% 101%
403 • Net generation at Hydro Assets
369 Short
Term (Karcham and Baspa) for 4QFY24 was
98% 48%
98% Long 42%
100% 100% 5,510 down 8% YoY and down 12% YoY for
4,831 Term
403 369 14% 13%
FY24 due to lower water flow

FY23 FY24 PAF PLF PAF PLF • Plant Availability Factor remains above
Q4 FY23 Q4 FY24
Q4 FY23 Q4 FY24 FY23 FY24
the normative PAF for 4QFY24 (92%)
Segmental Revenue from Operations (₹ Cr) EBITDA (₹ Cr) and FY24 (101%)

11%
Financial Highlights
2%
8% 3%
1,304 • Revenue for 4QFY24 was down 8% YoY
136
186 1,328 1,370 to ₹171 Cr, while EBITDA at ₹136 Cr was
171 134
up 2% YoY
1,170
• For FY24 EBITDA increased 11% to
₹ 1,304 Cr

Q4 FY23 Q4 FY24 FY23 FY24 Q4 FY23 Q4 FY24 FY23 FY24

JSW Energy Q4 FY24 Results Presentation Hydro Assets include: Karcham-Wangtoo and Baspa. 48
 Under Construction Projects

JSW SECI X

JSW Energy Q4 FY24 Results Presentation 49

 JSW Neo- Under construction Wind Power Projects – 2.0 GW

Wind Projects (SECI IX,X, XII and Group Captive)

 SECI IX (810MW) : 92 MW Commisioned
 SECI X (454 MW) : 248 MW Commisioned
 Approx 2 GW is under construction and to be commissioned by CY24

JSW Energy Q4 FY24 Results Presentation 50

 JSW Neo - Kutehr Hydro Power Plant – 240 MW

Barrage & Intake Power-House works

• Barrage concreting completed 89% • Unit 1 - Boxing up of unit-1 in progress
• Unit 2 – Erection of turbine in progress
• Intake 1&2 concreting completed
• Unit 3 – Generator barrel concreting in
Tunneling & Concreting progress
• Transformer Hall- GIS slab concreting
• Completed tunneling work ~100% completed- 100%

JSW Energy Q4 FY24 Results Presentation 51

JSW Energy - Ind-Barath Unit 2 (350 MW)
Revival works in Progress

Unit 1 (350 MW) Unit 2 (350 MW)

• Synchronised with grid on 13th Jan 24 • Turbine box up work completed
• Boiler steam blowing preparation under progress
• Generator rotor thread in completed
• Switchgear commissioning in progress
JSW Energy Q4 FY24 Results Presentation • Railway siding of ~6km is ready 52