NEW DELHI: JSW Neo Energy, a wholly-owned subsidiary of JSW Energy, has announced the signing of a definitive agreement to acquire 4,696 MW renewable energy platform from O2 Power Pooling Pte. Ltd, a joint venture between EQT Infrastructure and Temasek.
The transaction involves acquisition of O2 Power Midco Holdings Pte. Ltd and O2 Energy SG Pte. Ltd and is subject to approval from the Competition Commission of India and other customary regulatory clearances. The transaction values the platform at an enterprise valuation of nearly Rs 12,468 crore ($ 1.47 bn), after adjusting for net current assets.
“This acquisition strengthens our positioning as a leading player in India’s energy sector,” said Sharad Mahendra, joint MD and CEO of JSW Energy. O2 Power is a renewable energy platform with a capacity of 4,696 MW – where 2,259 MW will be operational by June 2025, 1,463 MW is currently under construction, and an additional 974 MW are in the pipeline, all scheduled for commissioning by June 2027.
