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JSW Energy (JSWE) showcased its green hydrogen and floating solar plants during a visit to its Vijaynagar facility on January 7-8, 2026. The green hydrogen plant, commissioned in November 2025, produces 5,000 m3/hour for the adjacent JSW Group steel plant.

Current green hydrogen costs are approximately USD3.5-4/Kg, above the USD 2-2.5/Kg needed for mass commercialization. The 20 MW floating solar plant, operational since September 2025, offers advantages like reduced land needs and enhanced cooling.

JSWE's operational capacity has increased from 7.2GW at the end of FY24 to 13.2GW by Q2 FY26, with a project pipeline of 17.2GW, 74% of which is secured by long-term power purchase agreements (PPAs). The company aims for 30GW by FY30 and has a locked-in energy storage capacity of 29.4 GWh, targeting 40 GWh by FY30. A BUY rating is assigned with a target price of INR657, reflecting a 34% upside.