Author: PPD Team Date: 20/03/2025
The Competition Commission of India (CCI) has approved JSW Neo Energy Private Limited’s acquisition of 4,696 MW renewable energy projects from O2 Power Private Limited. JSW Neo Energy is a wholly owned subsidiary of JSW Energy Limited (JSWEL).
Under the deal, JSWEL will acquire the renewable energy platform of O2 Power Pooling Pte. Limited, including O2 Power Midco Holdings Pte. Limited and O2 Energy SG Pte. Limited, for an enterprise value of Rs 124.68 billion (USD 1.47 billion).
O2 Power’s portfolio includes 2,259 MW of operational projects, 1,463 MW under construction, and 974 MW in the pipeline. The entire portfolio is expected to be fully operational by June 2027. The assets span seven states, with a blended tariff of Rs 3.37/KWh and an average remaining life of 23 years.
O2 Power is a joint venture between EQT Infrastructure and Temasek. The acquisition was first announced in December.
With this acquisition, JSW Energy’s total generation capacity will increase by 23%, from 20,012 MW to 24,708 MW.