JSW Neo Energy Limited, a wholly-owned subsidiary of JSW Energy, has entered into a definitive agreement to acquire a renewable energy platform with a total capacity of 4,696 MW from O2 Power Pooling. The platform’s enterprise valuation, after adjustments for net current assets, is approximately Rs 124.68 billion. The acquisition includes O2 Power Midco Holdings and O2 Energy SG and is subject to approval from the Competition Commission of India and other customary regulatory clearances.
O2 Power was established in 2020 by EQT Infrastructure and Temasek. Headquartered in Gurgaon, the company focuses on utility-scale solar, wind, and hybrid energy projects and has secured a total capacity of 4.7 GW, with 2.3 GW expected to be operational by June 2025. The company also strengthened its presence in both public utility and Commercial & Industrial (C&I) segments. Its C&I capacity of 596 MW will increase JSW Energy’s total C&I capacity to 3,694 MW, including 2,653 MW dedicated to the JSW Group.
Earlier this month, O2 Power signed a 100 MW power purchase agreement with East Central Railways to supply round-the-clock renewable energy from its 360 MW installed capacity across Rajasthan, Gujarat, and Karnataka.
