JSW Neo Energy acquires a 4.7 GW renewable energy portfolio from O2 power for Rs 124.68 billion

JSW Neo Energy, a wholly-owned subsidiary of JSW Energy, has entered into a definitive agreement to acquire O2 Power Midco Holdings, O2 Energy SG and their subsidiaries from O2 Power for Rs 124.68 billion. O2 Power is the India-based green energy platform of Temasek and EQT. After adjustments for net current assets, the platform’s enterprise valuation is approximately Rs 124.68 billion. The portfolio comprises a total capacity of 4,696 MW, including 2,259 MW of operational capacity, 1,463 MW under construction, and 974 MW in the pipeline. All projects are scheduled to be commissioned by June 2027. The portfolio has an average tariff of Rs 3.37 per kWh and an operational life of approximately 23 years. The acquisition is subject to approval from the Competition Commission of India and other customary regulatory clearances.