JSW Neo to acquire O2 Power; EQT and Temasek to exit

The transaction entails acquisition of O2 Power Midco Holdings and O2 Energy SG, and is subject to customary nods

- Rituraj Baruah

SW Neo Energy, a wholly-owned arm of JSW Energy Ltd, is set to acquire renewable energy platform O2 Power at an enterprise value of $1.47 billion.

European alternative asset manager EQT and Singapore's Temasek hold 51% and 49%, respectively, in O2 Power that has a capacity of 4.7 GW renewable energy. They both will exit the company, founded by former ReNew Power executives Parag Sharma, Peeyush Mohit, and Rakesh Garg, after the transaction.