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EQT scraps Zelestra India sale, to invest $600 million
Mint Ahmedabad
|October 13, 2025
lines as 02 Power, which was sold to JSW Neo Energy in December last year for an enterprise value of $1.47 billion.
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“EQT is not selling Zelestra India now. The plan is to build another 02 Power. While the sale process run by JP Morgan was on, it was decided that EQT’s Asia Pacific team would take Zelestra India forward on similar lines as was done for O2 Power,” said one of the four people cited above, requesting anonymity. “It will still be housed under the EQT Infrastructure V fund, but placed under a different partner. The plan is to infuse another $600 million in expanding Zelestra India portfolio.”
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