JSW Energy acquires O2 Power for ₹12,468 Crore

30 Dec 2024 , 01:55 PM

JSW Energy acquired O2 Power, a renewable energy platform, for ₹12,468 Crore, making it the company’s largest acquisition to date. The acquisition will increase JSW Energy’s generation capacity by 23%, from 20,012 megawatts (MW) to 24,708 MW.

O2 Power’s renewable energy platform has a total capacity of 4,696 MW, with 2,259 MW expected to be operational by June 2025, 1,463 MW now under construction, and an additional 974 MW planned for commissioning by June 2027. The platform has a blended average tariff of ₹3.37 per KWh and a remaining life of 23 years. The capacity are dispersed among seven resource-rich Indian states. 

JSW Energy stated that the transaction involves the acquisitions of O2 Power Midco Holdings Pte. Ltd. and O2 Energy SG Pte. Ltd. The transaction is subject to clearance from the Competition Commission of India (CCI) and other normal regulatory approvals.

Mahendra added that welcoming O2 Power’s experienced management team and workers into the JSW Energy family brings me great pleasure. By combining our strengths, I am convinced we will provide our stakeholders excellent value.

At around 9.43 AM, JSW Energy was trading 4.75% higher at ₹655.55, against the previous close of ₹625.80 on NSE. The counter touched an intraday high and low of ₹674, and ₹651.95, respectively.

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