Author: PPD Team Date: 11/04/2025
JSW Neo Energy Limited, a wholly owned subsidiary of JSW Energy Limited, has acquired a 4.7 GW renewable energy platform from O2 Power Pooling Pte Limited. O2 Power is a joint venture between global investors EQT and Temasek.
The acquisition, valued at Rs 124.68 billion, includes a mix of operational and under-construction renewable assets. Of the total capacity, 2,259 MW is expected to become operational by June 2025. Once commissioned, this portion is projected to generate a steady state EBITDA (earnings before interest, taxes, depreciation, and amortisation) of Rs 15 billion.
JSW Neo Energy plans to bring the entire 4,696 MW capacity online by June 2027. To complete the rollout, the company will invest an additional Rs 135 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.