JSW Energy completes reorganization of renewable and thermal businesses

17 Mar 2022 , 11:00 AM

JSW Energy Limited has completed the reorganization of the Company’s Green (Renewable) Business and Grey (Thermal) Business. The Board at its meeting held on November 25, 2021, had approved the re-organisation of the Company’s Green (Renewable) Business and Grey (Thermal) Business.

The following actions to effectuate the reorganization have been completed:
1. Transfer of 100% of the equity shares held by JSW Future Energy Limited in (i) JSW Renew Energy (Kar) Limited and (ii) JSW Renewable Energy (Dolvi) Limited, to JSW Neo Energy Limited (JSWNEL).
2. Transfer of 100% of the equity shares held by JSW Hydro Energy Limited in JSW Energy (Kutehr) Limited to JSWNEL.
3. Transfer of 100% of the equity shares held by the Company in JSW Hydro Energy Limited to JSWNEL.

Consequent to the aforesaid transfers, JSW Renew Energy (Kar) Limited, JSW Renewable Energy (Dolvi) Limited, JSW Energy (Kutehr) Limited and JSW Hydro Energy Limited have now become wholly owned subsidiaries of JSWNEL.

The Scheme of Amalgamation of JSW Future Energy Limited with JSW Neo Energy Limited has been filed with and is pending before the NCLT.

At around 11.04 am, JSW Energy Ltd was trading at Rs309 per piece up by Rs1.3 or 0.42% from its previous closing of Rs307.70 per piece on the BSE.