JSW Energy completes acquisition of 4.7 GW renewables platform

It has an installed capacity of 1.3 GW.

JSW Energy Limited’s wholly owned subsidiary has completed its acquisition of the 4.7 gigawatt renewable energy platform from O2 Power Pooling Pte. Ltd.

In a statement, the company said JSW Neo Energy Limited took over the platform jointly established by global investment organisations EQT & Temasek in 2020. It is valued at an enterprise valuation of approximately INR12,468 crores.

The acquired platform comprises 4,100 megawatts (MW) of utility-scale renewable energy projects and C&I capacity of 596 MW. The acquired assets, which is a mix of solar, wind, and hybrid projects, are spread across seven states, primarily operating in western India.

JSW Energy will have a steady state EBITDA generation of INR1,500 crores from 2,259 MW capacity to be operational by June 2025. Additionally, around INR13,500 crores of capital expenditure will be incurred to reach 4,696 MW of capacity by June 2027, at which stage it will have a steady state annualised EBITDA of INR3,750 crores.

O2 Power's installed capacity stands at 1,343 MW as of fiscal year (FY) 2025. Consequently, JSW Energy's proforma FY 2025 installed capacity stands at 12,212 MW, with renewable energy capacity accounting for 6,554 MW.