JSW Neo Energy to Acquire O2 Power for Rs 125 Bn
POWER & RENEWABLE ENERGY

JSW Neo Energy to Acquire O2 Power for Rs 125 Bn

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.

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.

Next Story
Resources

Madhya Pradesh Champions Inclusive Tourism at Heritage Sites

On the occasion of World Heritage Day, Madhya Pradesh is taking a significant step toward inclusive tourism by making its historical sites accessible to all — especially persons with disabilities. The state is rolling out its ‘Accessibility Infrastructure and Development’ project at Maheshwar, Mandu, Dhar, and Orchha, aiming to create a more welcoming experience at these iconic cultural destinations.The initiative, under the leadership of Chief Minister Dr Mohan Yadav and Tourism Minister Shri Dharmendra Bhav Singh Lodhi, includes infrastructure upgrades such as ramps, Braille signage, w..

Next Story
Resources

Runwal Realty Onboards Sonam Kapoor as Brand Ambassador

Real estate major Runwal has unveiled a refreshed identity as Runwal Realty, signalling a renewed commitment to crafting spaces that stand the test of time. With this refresh, the brand unveils its new philosophy: “Building for Generations to Come” and welcomes Bollywood star and global fashion icon Sonam Kapoor as its brand ambassador. This evolved identity reflects Runwal Realty’s commitment to creating not just homes, but heirlooms—crafted through visionary design, meticulous planning, global design expertise and an unwavering focus on quality. With the customer at its core, each de..

Next Story
Infrastructure Urban

Emerging Trends in Infrastructure and Transport 2025: KPMG

KPMG’s latest report, The Great Reset: Emerging Trends in Infrastructure and Transport 2025 edition, sheds light on the profound changes transforming the global infrastructure landscape. As industries adapt to the challenges posed by climate change, economic pressures, and technological advancements, the report identifies key trends and provides actionable insights for leaders in infrastructure and transport sectors. “In today’s interconnected world, the lack of standardized supply chain practices is not just an operational challenge—it’s an environmental and economic one. We’..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?