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 Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..