JSW Energy Finalises Acquisition of 4.7 GW Renewable Energy Portfolio from O2 Power

Strategic Expansion Through Acquisition

JSW Neo Energy Limited, a wholly-owned subsidiary of JSW Energy, has officially completed the acquisition of O2 Power Midco Holdings Pte. Limited and O2 Energy SG Pte. Limited, along with their subsidiaries. This acquisition, valued at approximately ₹12,468 crore, marks JSW Energy’s largest renewable energy deal to date. The acquired assets, developed by O2 Power—a venture backed by EQT and Temasek—comprise both operational and in-development projects across seven states in India.

With this acquisition, JSW Energy’s installed capacity has risen to 12,212 MW, of which renewable energy now constitutes 6,554 MW, accounting for 54% of its total capacity. Of the acquired 4.7 GW, 2,259 MW is projected to be operational by June 2025, generating an estimated EBITDA of ₹1,500 crores. The remaining capacity is expected to be developed by June 2027, elevating annualised EBITDA to ₹3,750 crores.

Diversified Energy Assets and Financial Synergies

The newly acquired platform includes 4,100 MW of utility-scale projects and 596 MW for commercial and industrial use. A significant portion of the capacity—3,722 MW—is already secured under Power Purchase Agreements (PPAs) with high-credit-quality clients, while 974 MW awaits finalised agreements. The asset base offers a diverse mix, including 1.8 GW of solar, 0.5 GW of wind, 1.6 GW of hybrid, and 0.9 GW of firm and dispatchable renewable energy (FDRE) or round-the-clock (RTC) solutions.

JSW Energy emphasised that the transaction supports its long-term strategy of value-accretive growth and competitive capital allocation. The company expects to derive operational efficiencies and improved returns by leveraging favourable financing and strategic synergies. The acquisition also includes grid connectivity for an additional 900 MW, enabling further scalability.

JSW Energy Share Performance 

As of April 11, 2025, at 10:30 AM, JSW Energy share price is trading at ₹487.25 per share, reflecting a surge of 1.03% from the previous day’s closing price. Over the past month, the stock has declined by 5.16%.

Conclusion

With the successful acquisition of O2 Power’s expansive renewable platform, JSW Energy has not only advanced its target of achieving 20 GW of power generation capacity ahead of schedule but has also fortified its position as a leading player in India’s energy transition. The deal aligns with the company’s commitment to sustainable, diversified, and value-driven growth.

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