JSW Energy Limited announced that it had successfully acquired a 4.7 GW renewable energy platform from O2 Power Pooling Pte. Ltd. for an enterprise value of roughly Rs 12,468 crore through its wholly owned subsidiary JSW Neo Energy.
As of FY2025, O2 Power has 1,343 megawatt (MW) installed capacity, bringing JSW Energy’s total installed capacity to 12,212 MW. Renewable energy accounts for approximately 54%, or 6,554 MW. The purchase is a key step toward JSW Energy’s objective of switching to renewable energy.
By June 2025, the platform’s 2,259 MW of capacity is expected to produce a steady-state EBITDA of Rs 1,500 crore. JSW plans to scale the entire 4,696 MW by June 2027 with an extra Rs 13,500 crore in capital expenditures, resulting in an expected steady-state EBITDA of Rs 3,750 crore annually.
The acquired platform has 596 MW of C&I capacity and 4,100 MW of utility-scale renewable energy projects. PPAs with high-credit-quality off-takers, such as utility-scale, commercial, and industrial users, are the recipients of 3,722 MW of the platform’s total capacity.
A letter of award/intent was issued for 974 MW of capacity; however, the PPA is still being processed. The acquired assets are mostly located in western India and are spread across seven resource-rich states. The portfolio features a diverse energy mix, with 1.8 GW of solar, 0.5 GW of wind, 1.6 GW of hybrid, and 0.9 GW of complex solutions such as FDRE/RTC.
The platform’s average blended tariff is Rs 3.37 per kWh. PWC served as the company’s transaction advisor, Khaitan & Co. and Herbert Smith as its legal advisors, KPMG as its financial and tax due diligence, and Wind Guard as its technological due diligence firm.
Sharad Mahendra, JSW Energy’s CEO and co-managing director, has high-quality properties in resource-rich states and a management team with a proven track record of effective planning and execution, which are included in the transaction.
Well before 2030, this strategic acquisition brings us one step closer to achieving our 20 GW capacity goal. We can expand in the future thanks to the additional 900 MW of connectivity that O2 Power provides. It gives us great pleasure to welcome the seasoned management and employees of O2 Power to the JSW Energy family.
The future of investing is here!
Unicorn Signals leverages advanced AI technology to provide you with powerful market predictions and actionable stock scans. Download the app todayand 10x your trading & investing journey!
