JSW Energy acquires O2 Power for a whopping $1.47 billion

JSW Neo Energy Limited, a subsidiary of JSW Energy Limited, has agreed to acquire O2 Power Pooling, a 4.6 GW renewable energy platform, for an enterprise valuation of approximately Rs 12,468 crore ($1.47 billion). The platform is owned 51:49% by EQT Infrastructure and Temasek. The acquisition values the platform at an enterprise valuation of Rs 12,468 crore, after adjusting for net current assets. O2 Power has a capacity of 4.6 GW, with 2.2 GW operational by June 2025, 1.4 GW under construction, and 974 MW in the pipeline. The acquisition will strengthen JSW Energy’s operational footprint across key resource-rich states and increase its locked-in generation capacity by 23%. The transaction is subject to approval from the Competition Commission of India (CCI). This is the largest buyout of JSW Energy in India, and the company plans to achieve a 4.7 GW capacity by 2027, which would translate to an enterprise value of Rs 25,468-26,468 crore.