JSW Energy’s Subsidiary Acquires O2 Power: A Landmark Deal in Renewable Energy
JSW Neo’s Strategic Acquisition
JSW Energy Ltd.’s subsidiary, JSW Neo, has announced the acquisition of renewable energy platform O2 Power. This is considered one of the largest deals in the company’s history. The acquisition will take place through O2 Power Midco Holdings Pte. and O2 Energy SG Pte.. The finalization of the deal is subject to approval from the Competition Commission of India (CCI), as disclosed in the company’s exchange filing on Friday.
Benefits of the Acquisition
JSW Energy revealed that the acquisition would increase its total power generation capacity by 23%. Post-acquisition, JSW Energy’s capacity will expand from 20,012 MW to 24,708 MW. O2 Power’s projects are strategically spread across seven resource-rich states in India, further strengthening JSW Energy’s footprint in the renewable energy sector.
JSW Energy Managing Director and CEO, Sharad Mahendra, stated:
“This acquisition is a milestone for us. It solidifies our position in India’s energy sector. These high-quality assets will help us expand operations across key states.”
About O2 Power
O2 Power is a renewable energy platform with a total capacity of 4,696 MW. Of this, 2,259 MW is expected to be operational by June 2025. Projects amounting to 1,463 MW are under construction, while 974 MW will be commissioned by June 2027. The platform operates at an average tariff rate of ₹3.37 per unit, with an estimated remaining lifespan of 23 years, offering long-term benefits.
Financial Details of the Deal
The enterprise value of this landmark deal is approximately ₹12,468 crore, subject to adjustments for net current assets. JSW Energy emphasized that O2 Power’s high-quality assets will help the company achieve a leading position in renewable energy.
JSW Energy Share Performance
On Friday, JSW Energy shares closed 2% lower at ₹625.80. The company’s market capitalization currently stands at ₹1,09,244 crore. Over the past 52 weeks, the stock has recorded a low of ₹404 and a high of ₹804.90.
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