JSW Energy Completes Acquisition of 4.7 GW Renewable Energy Platform from O2 Power

JSW Neo Energy, a subsidiary of JSW Energy Ltd, has successfully completed the acquisition of a 4.7 GW renewable energy platform from O2 Power, valued at ₹124.68 billion. This strategic move significantly enhances JSW Energy's presence in the renewable energy sector, bolstering its capacity and operational footprint across India.

 

Key Highlights:

 

Acquisition Details: The transaction involves the acquisition of O2 Power Midco Holdings Pte. Ltd. and O2 Energy SG Pte. Ltd., subject to regulatory approvals, including clearance from the Competition Commission of India (CCI).

 

Capacity Expansion: The acquisition adds 4.7 GW of renewable energy capacity to JSW Energy's portfolio, with 2,259 MW expected to be operational by June 2025, 1,463 MW under construction, and 974 MW in the pipeline for commissioning by June 2027.

 

Market Impact: This deal marks one of the largest acquisitions in India's renewable energy sector, reflecting the growing trend of consolidation and strategic expansion in the industry.

 

Financial Strategy: JSW Energy recently raised ₹12 billion through the private placement of non-convertible debentures, demonstrating its financial readiness to support such large-scale acquisitions and future growth initiatives.

 

This acquisition positions JSW Energy as a major player in India's renewable energy landscape, aligning with its goals of expanding its clean energy portfolio and contributing to the country's sustainability objectives.

 

Source: The Economic Times, Business Standard, Mercom India