JSW Energy to Acquire O2 Power’s Assets for $1.47 Billion, Backed by Temasek

JSW Energy, a leading Indian power generation company, has announced its plan to acquire O2 Power, a mid-sized independent power producer backed by Temasek and EQT, in a deal worth $1.47 billion. The acquisition is expected to accelerate JSW Energy’s growth in the renewable energy segment, which has been a key focus area for the company. O2 Power has a platform of 4,696 megawatts (MW) of renewable energy capacity, making it a significant addition to JSW Energy’s portfolio. The deal is seen as a strategic move by JSW Energy to expand its renewable energy capacity and diversify its power generation portfolio. The acquisition is also expected to strengthen JSW Energy’s position in the country’s renewable energy market, which is expected to see significant growth in the coming years. The deal is subject to regulatory approvals and is expected to be completed by the end of 2023. With this acquisition, JSW Energy is expected to increase its total installed capacity by over 25% and emerge as one of the largest private sector power companies in India.