JSW Energy Completes Rs 124.68 Bn Acquisition of O2 Power’s 4.7 GW Assets
POWER & RENEWABLE ENERGY

JSW Energy Completes Rs 124.68 Bn Acquisition of O2 Power’s 4.7 GW Assets

JSW Energy, through its wholly owned subsidiary JSW Neo Energy, has completed the acquisition of a 4.7 GW renewable energy platform from O2 Power Pooling for an enterprise value of approximately Rs 124.68 billion. O2 Power, founded in 2020 by global investors EQT and Temasek, has contributed significantly to the renewable sector in India.

As of FY2025, O2 Power's installed capacity stands at 1,343 MW, increasing JSW Energy’s total installed capacity to 12,212 MW. Out of this, renewable energy accounts for 6,554 MW, approximately 54 per cent of the total. This acquisition marks a major milestone in JSW Energy’s transition towards a cleaner energy portfolio.

The platform is projected to generate a steady-state EBITDA of Rs 15 billion from the 2,259 MW capacity expected to be operational by June 2025. With a further capital expenditure of Rs 135 billion, the company aims to commission the full 4,696 MW by June 2027, which is estimated to yield an annual EBITDA of Rs 37.50 billion.

The acquired assets include 4,100 MW of utility-scale renewable energy projects and 596 MW in the commercial and industrial (C&I) segment. Of the total capacity, 3,722 MW is already tied up under long-term power purchase agreements (PPAs) with financially strong off-takers. An additional 974 MW has received Letters of Award/Intent and is awaiting PPA finalization.

These assets are spread across seven resource-rich states, mainly in western India, and consist of a diversified energy mix — 1.8 GW solar, 0.5 GW wind, 1.6 GW hybrid, and 0.9 GW of firm and dispatchable/round-the-clock (FDRE/RTC) solutions. The platform operates at a blended average tariff of Rs 3.37/kWh.

PWC advised on the transaction, with Khaitan & Co and Herbert Smith handling legal aspects. Financial and tax due diligence was conducted by KPMG, while Wind Guard completed technical evaluations.

News source: CNBC TV18

JSW Energy, through its wholly owned subsidiary JSW Neo Energy, has completed the acquisition of a 4.7 GW renewable energy platform from O2 Power Pooling for an enterprise value of approximately Rs 124.68 billion. O2 Power, founded in 2020 by global investors EQT and Temasek, has contributed significantly to the renewable sector in India. As of FY2025, O2 Power's installed capacity stands at 1,343 MW, increasing JSW Energy’s total installed capacity to 12,212 MW. Out of this, renewable energy accounts for 6,554 MW, approximately 54 per cent of the total. This acquisition marks a major milestone in JSW Energy’s transition towards a cleaner energy portfolio. The platform is projected to generate a steady-state EBITDA of Rs 15 billion from the 2,259 MW capacity expected to be operational by June 2025. With a further capital expenditure of Rs 135 billion, the company aims to commission the full 4,696 MW by June 2027, which is estimated to yield an annual EBITDA of Rs 37.50 billion. The acquired assets include 4,100 MW of utility-scale renewable energy projects and 596 MW in the commercial and industrial (C&I) segment. Of the total capacity, 3,722 MW is already tied up under long-term power purchase agreements (PPAs) with financially strong off-takers. An additional 974 MW has received Letters of Award/Intent and is awaiting PPA finalization. These assets are spread across seven resource-rich states, mainly in western India, and consist of a diversified energy mix — 1.8 GW solar, 0.5 GW wind, 1.6 GW hybrid, and 0.9 GW of firm and dispatchable/round-the-clock (FDRE/RTC) solutions. The platform operates at a blended average tariff of Rs 3.37/kWh. PWC advised on the transaction, with Khaitan & Co and Herbert Smith handling legal aspects. Financial and tax due diligence was conducted by KPMG, while Wind Guard completed technical evaluations. News source: CNBC TV18

Next Story
Infrastructure Transport

Mumbai-Ahmedabad Bullet Train Set to Launch by 2028

India’s first bullet train is set to revolutionize high-speed travel along the western corridor, with the Mumbai-Ahmedabad high-speed rail project aiming for a 2028 launch. This announcement marks a major milestone in India’s infrastructure goals, as it promises to reduce travel time between the two economic hubs from eight hours to just three.Spanning a planned 508-kilometre stretch, the corridor stands as a flagship example of Indo-Japanese collaboration in technology and engineering. Once operational, the train is expected to transform intercity mobility and place India among the select..

Next Story
Infrastructure Transport

Mumbai-Gandhinagar Train Service Enhances Passenger Capacity

The Mumbai Central–Gandhinagar Capital Vande Bharat Express has increased its passenger capacity by adding four additional AC chair car coaches to meet the growing commuter demand on one of India’s busiest business corridors. This upgrade, effective from 11 May, raised the train’s seating capacity from 1,128 to 1,440 passengers, allowing it to serve 936 more passengers daily in both directions. The increase was described as a practical measure to accommodate the surging demand on the busy Mumbai–Ahmedabad–Gandhinagar route, which regularly operates at over 150 percent seat occupancy...

Next Story
Infrastructure Urban

Delhi Plans 12 Sewage Plants to Clean Najafgarh Drain Efficiently

Delhi’s ambitious plan to improve the water quality of the Yamuna River has gained significant momentum as the Delhi Jal Board (DJB) has begun work on 12 new sewage treatment plants (STPs) aimed at reducing the volume of untreated sewage being discharged from the Najafgarh Drain.This initiative forms part of the ongoing efforts to clean the Yamuna and restore the river’s health, which has long been a critical environmental issue for the national capital. Given the alarming pollution levels in the Yamuna, experts and officials consider this project a vital step toward addressing the persist..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?