JSW in talks to acquire Mytrah Energy
POWER & RENEWABLE ENERGY

JSW in talks to acquire Mytrah Energy

The JSW Group has initiated talks with several private equity (PE) funds, including American investment management firm Apollo Global Management, to acquire its renewable power producer, Mytrah Energy (India) (MEIPL).

The current enterprise valuation is $2 billion. JSW group’s JSW Energy has a target to add 15 gigawatts (Gw) of renewables in its portfolio with an investment of $10 billion by 2030. Mytrah has a portfolio of wind and solar power projects with a capacity of 1.8 Gw. MEIPL is a subsidiary of Bindu Vayu (Mauritius), which is fully owned by Mytrah Energy (MEL). MEL was earlier listed on the Alternative Investment Market (AIM), a sub-market of the London Stock Exchange. Its main promoter, Ravi Kailas, chairman of Mytrah Group, holds 93% of the shares in MEL.

A JSW group spokesperson declined to comment on the issue. Lenders are currently looking at various parameters to finance the transaction, including the power purchase agreement (PPA) and its clauses. “If the (MEL) projects have additional payment security mechanisms, compensation for grid unavailability, and financial protection in case of an off-taker default, then the investors would look at financing the acquisition,” said a banker working close with the developments.

Also read:
JSW Steel to invest Rs 100 billion to increase use of renewable energy


Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

The JSW Group has initiated talks with several private equity (PE) funds, including American investment management firm Apollo Global Management, to acquire its renewable power producer, Mytrah Energy (India) (MEIPL). The current enterprise valuation is $2 billion. JSW group’s JSW Energy has a target to add 15 gigawatts (Gw) of renewables in its portfolio with an investment of $10 billion by 2030. Mytrah has a portfolio of wind and solar power projects with a capacity of 1.8 Gw. MEIPL is a subsidiary of Bindu Vayu (Mauritius), which is fully owned by Mytrah Energy (MEL). MEL was earlier listed on the Alternative Investment Market (AIM), a sub-market of the London Stock Exchange. Its main promoter, Ravi Kailas, chairman of Mytrah Group, holds 93% of the shares in MEL. A JSW group spokesperson declined to comment on the issue. Lenders are currently looking at various parameters to finance the transaction, including the power purchase agreement (PPA) and its clauses. “If the (MEL) projects have additional payment security mechanisms, compensation for grid unavailability, and financial protection in case of an off-taker default, then the investors would look at financing the acquisition,” said a banker working close with the developments.Also read: JSW Steel to invest Rs 100 billion to increase use of renewable energy

Next Story
Real Estate

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

Next Story
Infrastructure Transport

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Next Story
Infrastructure Transport

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?