JSW Neo Energy to Acquire O2 Power for Rs 125 Bn

30 Dec 2024 CW Team

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.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..