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JSW Energy acquires 4,696 MW renewable energy platform
The Business Guardian
|December 29, 2024
JSW Neo Energy Limited, a wholly owned subsidiary of JSW Energy Limited, has signed a definitive agreement to acquire a 4,696 MW renewable energy platform from O2 Power Pooling Pte. Ltd.
According to JSW Energy, the platform, valued at approximately Rs12,468 crores (around USD 1.47 billion), will significantly boost JSW Energy's renewable energy capacity. The acquisition, subject to approval by the Competition Commission of India (CCI) and other customary approvals, includes O2 Power Midco Holdings Pte. Ltd. and O2 Energy SG Pte. Ltd.
O2 Power's platform includes 2,259 MW of operational capacity, with an additional 1,463 MW under construction and 974 MW in the pipeline. The entire platform is expected to be operational by June 2027.
With a blended average tariff of Rs3.37/KWh and a remaining life of approximately 23 years, the platform spans across seven resource-rich states of India. This acquisition will increase JSW Energy's total locked-in generation capacity by 23%, from 20,012 MW to 24,708 MW.
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