JSW Energy Limited — Capital/Financing Update 2026

Jan 20, 2026

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Energy Limited

Regd. Office: JSW Centre, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051,

CIN: L74999MH1994PLC077041 Phone: 022-4286 1000 Fax: 022-4286 3000 Website: www.jsw.in

SEC / JSWEL 20[th ] January, 2026

BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai - 400 001	National Stock Exchange of India Limited Exchange Plaza Bandra - Kurla Complex, Bandra (E) Mumbai - 400 051
Scrip Code: 533148	Scrip Code: JSWENERGY- EQ

Sub: Power Purchase Agreement for 1,600 MW with West Bengal DISCOM

Ref: Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

Dear Madam / Sir,

This is to inform you that JSW Thermal Energy Two Limited, a wholly-owned subsidiary of the Company, has signed a Power Purchase Agreement with West Bengal State Electricity Distribution Company Limited for a greenfield 1,600 MW (2 x 800 MW) super/ultra-super critical thermal power plant to be commissioned in Salboni, West Bengal, within 6 years.

A Press Release in this regard is attached.

Yours faithfully,

For JSW Energy Limited

MONICA MONICA CHOPRA CHOPRA 2026.01.20 18:12:35 +05'30' Monica Chopra Company Secretary

Part of O.P. Jindal Group

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Press Release January 20, 2026

JSW Energy’s Secured Thermal Capacity Reaches 10.7 GW post Signing of a Second 1,600 MW Thermal PPA with West Bengal Discom

Mumbai, India — January 20, 2025 — JSW Thermal Energy Two Limited, a subsidiary of JSW Energy Ltd (“the Company”), has signed a Power Purchase Agreement (“PPA”) with West Bengal State Electricity Distribution Company Limited (“WBSEDCL”) for a greenfield 1,600 MW (2 x 800 MW) super/ultra super critical thermal power plant and will be commissioned in Salboni, West Bengal, within 6 years.

The plant is awarded under competitive bidding process invited by WBSEDCL. The plant will utilize domestic linkage coal allocated to West Bengal under the SHAKTI B (iv) policy. This is the second PPA which the Company has signed with WBSEDCL after the signing of 1,600 MW earlier in March 2025.

Mr. Sharad Mahendra, Joint Managing Director and CEO of JSW Energy

“I am pleased to announce the signing of our second 1,600 MW PPA with WBSEDCL for a thermal power project at Salboni, increasing our total capacity at the site to 3,200 MW. This makes Salboni our largest single-location asset and reinforces our commitment to India’s energy security through the supply of reliable and affordable power. The project benefits from its strategic proximity to coal blocks, as well as synergies with the existing 1,600 MW unit under construction, driving significant operational efficiencies. This milestone marks another important step in expanding our thermal portfolio as we continue to build efficient, scalable energy assets that create long-term value for all stakeholders”

The Company currently owns and operates 5,658 MW of thermal generation capacity. With 3,200 MW under construction at Salboni and an option to add 1,800 MW at KSK Mahanadi, the Company’s total thermal capacity is expected to increase to 10,658 MW, with the entire incremental capacity using domestic coal.

JSW Energy has total locked-in generation capacity of 32.1 GW comprising of 13.3 GW operational, 14 GW under-construction across thermal and renewable, 150 MW under-acquisition hydro and has pipeline of 4.6 GW. The company also has 29.4 GWh of locked-in energy storage capacity through hydro pumped storage projects of 26.4 GWh and battery energy storage system of 3.0 GWh. The Company aims to reach 30 GW generation capacity and 40 GWh of energy storage capacity by 2030 and achieve Carbon Neutrality by 2050.

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ABOUT JSW ENERGY: JSW Energy Ltd is one of the leading Private sector power producers in India and part of the USD 23 billion JSW Group which has significant presence in sectors such as steel, energy, infrastructure, cement, sports among others. JSW Energy Ltd has established its presence across the value chains of power sector with diversified assets in power generation, and transmission. With strong operations, robust corporate governance and prudent capital allocation strategies, JSW Energy continues to deliver sustainable growth, and create value for all stakeholders. JSW Energy began commercial operations in 2000, with the commissioning of its first 2x130 MW thermal power plants at Vijayanagar, Karnataka. Since then, the company has steadily enhanced its power generation capacity from 260 MW to 13.3 GW, ensuring diversity in geographic presence, fuel sources and power off-take arrangements. The Company is presently constructing various power projects to the tune of 14 GW, with a vision to achieve a total power generation capacity of 30 GW by 2030.

Forward Looking and Cautionary Statements:

Certain statements in this release concerning our future growth prospects are forward looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition within Power Industry including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our internal operations, reduced demand for Power, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which JSW Energy has made strategic investments, withdrawal of fiscal governmental incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.

For more information/ queries:

Investor Relations Team ir.jswenergy@jsw.in

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