JSW Energy acquires renewable energy assets from Hetero Group
Author: PPD Team Date: January 14, 2025
JSW Energy’s subsidiary, JSW Neo Energy, has acquired 125 MW of renewable energy assets from Hetero Group for an enterprise valuation of Rs 6.3 billion.
The portfolio includes wind power projects in Andhra Pradesh and Maharashtra, with long-term power purchase agreements.
The acquisition was made through three Special Purpose Vehicles (SPVs) owned by Hetero Labs Ltd and Hetero Drugs Ltd. The portfolio has a blended tariff of Rs 5.22 per kWh and an average remaining plant life of 15 years.
In October 2024, JSW Renew Energy Six Limited and JSW Renew Energy Thirty Limited, step-down subsidiaries of JSW Energy, signed 25-year power purchase agreements with MSEDCL for a 1,200 MW solar-wind hybrid project at a tariff of Rs 3.6 per kWh, to be commissioned within 24 months.