JSW Neo Energy to Acquire O2 Power for Rs 125 Bn
POWER & RENEWABLE ENERGY

JSW Neo Energy to Acquire O2 Power for Rs 125 Bn

JSW Neo Energy, a fully owned subsidiary of JSW Energy, has signed a definitive agreement to acquire O2 Power Pooling’s 4,696 MW renewable energy platform for approximately Rs 124.68 billion (~$1.46 billion), post adjustments for net current assets.

The acquisition includes O2 Power Midco Holdings and O2 Energy SG, subject to approval from the Competition Commission of India and other customary regulatory clearances. O2 Power’s renewable energy platform operates at a capacity of 4,696 MW, with 2,259 MW expected to be operational by June 2025. An additional 1,463 MW is under construction, and 974 MW is in the pipeline, scheduled for commissioning by June 2027. The platform has a blended average tariff of Rs 3.37 (~$0.039)/kWh and an average operational life of 23 years. The acquisition, which spans seven Indian states, will boost JSW Energy’s locked-in generation capacity by 23 per cent, raising it from 20,012 MW to 24,708 MW. O2 Power, founded by EQT Infrastructure and Temasek, has most of its capacity secured under long-term power purchase agreements. In addition, JSW Neo Energy has acquired three wind energy projects from Hetero Wind Power with a combined capacity of 125 MW for Rs 6.3 billion (~$74.93 million). The company also signed an energy storage agreement to supply 1,500 MW/12,000 MWh from pumped hydro storage projects and won a Solar Energy Corporation auction for 500 MW of standalone battery storage.

JSW Neo Energy, a fully owned subsidiary of JSW Energy, has signed a definitive agreement to acquire O2 Power Pooling’s 4,696 MW renewable energy platform for approximately Rs 124.68 billion (~$1.46 billion), post adjustments for net current assets. The acquisition includes O2 Power Midco Holdings and O2 Energy SG, subject to approval from the Competition Commission of India and other customary regulatory clearances. O2 Power’s renewable energy platform operates at a capacity of 4,696 MW, with 2,259 MW expected to be operational by June 2025. An additional 1,463 MW is under construction, and 974 MW is in the pipeline, scheduled for commissioning by June 2027. The platform has a blended average tariff of Rs 3.37 (~$0.039)/kWh and an average operational life of 23 years. The acquisition, which spans seven Indian states, will boost JSW Energy’s locked-in generation capacity by 23 per cent, raising it from 20,012 MW to 24,708 MW. O2 Power, founded by EQT Infrastructure and Temasek, has most of its capacity secured under long-term power purchase agreements. In addition, JSW Neo Energy has acquired three wind energy projects from Hetero Wind Power with a combined capacity of 125 MW for Rs 6.3 billion (~$74.93 million). The company also signed an energy storage agreement to supply 1,500 MW/12,000 MWh from pumped hydro storage projects and won a Solar Energy Corporation auction for 500 MW of standalone battery storage.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code