JSW Neo Energy to acquire 4,696 MW renewable platform from O2 Power

JSW Neo Energy, a subsidiary of JSW Energy, has signed an agreement to acquire a 4,696 MW renewable energy platform from O2 Power for Rs 124.68 billion.

O2 Power is a joint venture of EQT Infrastructure and Temasek. The acquisition involves O2 Power Midco Holdings and O2 Energy SG and requires approval from the Competition Commission of India (CCI) and other regulatory clearances. 

The renewable energy portfolio includes 2,259 MW operational by June 2025, 1,463 MW under construction, and 974 MW in the pipeline, set for commissioning by June 2027. These assets span seven states in India, with a blended tariff of Rs 3.37/KWh and an average remaining life of 23 years.

This acquisition will increase JSW Energy’s generation capacity by 23%, from 20,012 MW to 24,708 MW.