JSW Neo Energy to Acquire 150 MW Tidong Hydro Power Plant from Statkraft

JSW Energy’s wholly owned subsidiary, JSW Neo Energy has signed a pact with Statkraft IH Holding AS to acquire 100 per cent equity shares of Tidong Power Generation for Rs 17.28 billion. The transaction is subject to the receipt of necessary regulatory approvals and other customary conditions under the definitive agreement. The plant is expected to be commissioned in October 2026 and has a 22-year power purchase agreement remaining with Uttar Pradesh Power Corporation Limited, to procure 75 MW power during the months of May to October at a tariff of Rs 5.57 per kWh. After this transaction, the company’s locked-in generation capacity stood at 30.5 GW, with hydropower capacity of 1.8 GW, including current operational hydro capacity of 1.6 GW.