JSW Neo Energy to Acquire 125 MW Wind Energy Projects
POWER & RENEWABLE ENERGY

JSW Neo Energy to Acquire 125 MW Wind Energy Projects

JSW Neo Energy (JSWNEL), a subsidiary of JSW Energy, has decided to acquire three wind energy projects of Hetero Wind Power with a cumulative capacity of 125 MW for an enterprise value of Rs 6.3 billion (~$74.93 million). The company recently executed definitive agreements with the Hetero Group to acquire its three wind power special purpose vehicles – Hetero Wind Power, Hetero Wind Power (Pennar), and Hetero Med Solutions.

JSW will acquire 100% shares in Hetero Wind Power (Pennar) and Hetero Med Solutions and 74% shares in Hetero Wind Power, where the captive consumer will continue to hold ~26% shares. These wind projects operate primarily in Andhra Pradesh and Maharashtra, and have long-term power purchase agreements (PPAs).

The acquisition is expected to be completed within 90 days. The three target companies’ cumulative revenue from operations in FY 2023-24 was ?1.44 billion (~$17.12 million). Jindal Energy has set a target of reaching 20 GW of renewable energy capacity before 2030. The acquisition would help the company achieve its targeted growth of 10 GW by FY 2025.

JSW Energy has a total locked-in generation capacity of 18.2 GW, comprising 7.7 GW operational, 2.1 GW under construction across wind, thermal, and hydro, and an 8.3 GW renewable energy pipeline. The company also has 16.2 GWh of locked-in energy storage capacity through a battery energy storage system and a hydro-pumped storage project.

In October 2024, Jindal Neo Energy was among the three companies that won MSEDCL’s auction to supply 1,650 MW of wind-solar hybrid power from grid-connected intrastate projects with a greenshoe option of up to 1,650 MW.

In the same month, JSW Energy PSP Two, a subsidiary of JSW Energy, signed an energy storage facility agreement with MSEDCL to supply 1,500 MW/12,000 MWh of power from pumped hydro storage projects.

In September, JSW Neo Energy was one of the winners in Solar Energy Corporation of India’s auction to set up 1,000 MW/2,000 MWh standalone battery energy storage systems. JSW Neo quoted a tariff of ?381,000 (~$4542)/MW per month for a capacity of 500 MW/1000 MWh.

JSW Neo Energy (JSWNEL), a subsidiary of JSW Energy, has decided to acquire three wind energy projects of Hetero Wind Power with a cumulative capacity of 125 MW for an enterprise value of Rs 6.3 billion (~$74.93 million). The company recently executed definitive agreements with the Hetero Group to acquire its three wind power special purpose vehicles – Hetero Wind Power, Hetero Wind Power (Pennar), and Hetero Med Solutions. JSW will acquire 100% shares in Hetero Wind Power (Pennar) and Hetero Med Solutions and 74% shares in Hetero Wind Power, where the captive consumer will continue to hold ~26% shares. These wind projects operate primarily in Andhra Pradesh and Maharashtra, and have long-term power purchase agreements (PPAs). The acquisition is expected to be completed within 90 days. The three target companies’ cumulative revenue from operations in FY 2023-24 was ?1.44 billion (~$17.12 million). Jindal Energy has set a target of reaching 20 GW of renewable energy capacity before 2030. The acquisition would help the company achieve its targeted growth of 10 GW by FY 2025. JSW Energy has a total locked-in generation capacity of 18.2 GW, comprising 7.7 GW operational, 2.1 GW under construction across wind, thermal, and hydro, and an 8.3 GW renewable energy pipeline. The company also has 16.2 GWh of locked-in energy storage capacity through a battery energy storage system and a hydro-pumped storage project. In October 2024, Jindal Neo Energy was among the three companies that won MSEDCL’s auction to supply 1,650 MW of wind-solar hybrid power from grid-connected intrastate projects with a greenshoe option of up to 1,650 MW. In the same month, JSW Energy PSP Two, a subsidiary of JSW Energy, signed an energy storage facility agreement with MSEDCL to supply 1,500 MW/12,000 MWh of power from pumped hydro storage projects. In September, JSW Neo Energy was one of the winners in Solar Energy Corporation of India’s auction to set up 1,000 MW/2,000 MWh standalone battery energy storage systems. JSW Neo quoted a tariff of ?381,000 (~$4542)/MW per month for a capacity of 500 MW/1000 MWh.

Next Story
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?