JSW Neo Energy, a subsidiary of JSW Energy, has acquired a 100 per cent stake in Virya Infrapower for an amount of Rs 75.4 million. The acquisition makes Virya Infrapower a step-down subsidiary of JSW Energy. It further provides JSW Neo with access to a power-ready site equipped with the necessary infrastructure, facilitating accelerated development in the renewable energy sector. The transaction will be finalised after post-closing adjustments, with the full payment made in cash.
Virya Infrapower is engaged in renewable energy project development in India. However, it has not recorded any revenue from operations over the past three financial years. The acquisition does not involve any related party transactions, as the promoter group of JSW Energy has no stake in Virya Infrapower. Additionally, no regulatory or governmental approvals were required to complete the deal.
In December 2024, JSW Neo Energy Limited agreed to acquire a 4,696 MW renewable energy platform from O2 Power Pooling for approximately Rs 124.68 billion, pending regulatory approvals.
