JSW Energy acquires O2 Power’s 4,696 MW renewable energy platform for a whopping Rs 12,468 crore, ET Manufacturing reports.

JSW Neo Energy Limited, a subsidiary of JSW Energy Limited, has signed a definitive agreement to acquire a 4,696 MW renewable energy platform from O2 Power Pooling Pte. Ltd. for approximately Rs12,468 crores (USD 1.47 billion). The platform includes 2,259 MW of operational capacity, 1,463 MW under construction, and 974 MW in the pipeline, with a blended average tariff of Rs3.37/KWh and a remaining life of approximately 23 years. The acquisition will increase JSW Energy’s total locked-in generation capacity by 23% and strengthen its operational footprint across seven resource-rich states in India. The acquired platform has a majority of its capacity secured under long-term power purchase agreements with high-credit-rating off-takers. The transaction is subject to approval by the Competition Commission of India and other customary approvals. JSW Energy’s Joint Managing Director and CEO, Sharad Mahendra, expressed enthusiasm about the acquisition, stating that it will deliver exceptional value to stakeholders. The deal is expected to be completed by June 2027.