JSW Energy unit to acquire 150 MW Tidong hydro power plant

The project will be completed in 2026.

JSW Neo Energy Limited, a wholly owned subsidiary of JSW Energy Limited, has signed a definitive agreement to acquire 100% shares in Tidong Power Generation Private Limited from Statkraft IH Holding AS.

“The transaction values the asset at an Enterprise Valuation of approximately INR 1,728 crores, subject to closing adjustments agreed under the share purchase agreement,” JSW Energy said in a bourse filing.

Tidong Power is constructing a 150 megawatt (MW) run-of-river hydro-electric power plant in Tidong Valley in Kinnaur district of Himachal Pradesh. It is under a 22-year power purchase agreement with Uttar Pradesh Power Corporation Ltd for 75 MW of power during May to October.

The project is expected to be commissioned in October 2026.

The acquisition is expected to be completed on or before 15 January, 2026, subject to the fulfilment of the conditions under the definitive agreements.

After this transaction, JSW Energy’s locked-in generation capacity will stand at 30.5 gigawatts (GW) with hydro capacity at 1.8 GW, including current operational hydro capacity of 1.6 GW.

Talwar Thakore & Associates were the legal advisors for the transaction, whilst Grant Thorton carried out financial and tax due diligence, and Tractebel Engineering carried out technical due diligence for JSW Neo Energy. Ernst & Young acted as sell-side M&A Banker, with Cyril Amarchand Mangaldas acting as legal advisor for Statkraft.