JSW Energy Limited has provided clarifications regarding the notice of its Extraordinary General Meeting (EGM), which was held on January 3, 2026. The EGM approved a preferential issue of equity shares and warrants.

In response to a query from the National Stock Exchange of India Limited (NSE) dated January 1, 2026, concerning the utilization of funds from this issue, the company detailed how proceeds will be used by its subsidiaries to achieve a target of 30 GW cumulative generation capacity and 40 GWh/5 GW of energy storage by 2030.

JSW Neo Energy Limited will use funds for renewable generation and energy storage projects, including pumped storage and battery energy storage systems, covering project development, asset acquisition, capex, and working capital. JSW Thermal Energy Limited will utilize funds for its 1600 MW thermal power project in Salboni, West Bengal, including preliminary development, early-stage capex, and equity contributions. JSW Energy (Utkal) Limited will use funds for capacity addition at its thermal power plant in Jharsuguda, Odisha, focusing on generating electricity from domestic coal.

The company also clarified that the utilization of proceeds from warrants will occur within one year from the receipt of funds, aligning with the objectives stated in the EGM Notice.