JSW Energy Ltd, through its wholly-owned arm JSW Neo Energy Ltd, will purchase a 4,696 MW renewable energy platform from O2 Power Pooling Pte Ltd for an enterprise value of ₹12,468 crore. This is the company’s largest acquisition to date. O2 Power, launched in 2020 by Sweden’s EQT Infrastructure and Singapore’s Temasek, develops and operates utility-scale solar and wind energy projects. It also serves public utilities and the commercial and industrial (C&I) sectors.
The platform has most of its capacity tied to long-term power purchase agreements with financially robust off-takers. With O2 Power’s 596 MW of C&I capacity, JSW Energy’s total C&I capacity will rise to 3,694 MW.
Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, stated, “This milestone acquisition reinforces our position as a prominent player in India’s energy sector. The addition of these quality assets enhances our presence in resource-rich states.”
For the transaction, PWC acted as the advisor to JSW Energy. Legal counsel was provided by Khaitan & Co and Herbert Smith, with financial and tax due diligence handled by KPMG, and technical evaluation conducted by Wind Guard.
JSW Energy currently operates a 10 GW portfolio, with 61% coming from renewable sources. The company aims to scale up to 20 GW of generating capacity and 40 GW of storage by 2030. Separately, the JSW Group has been progressing its plans for battery and cell manufacturing, targeting an initial capacity of 10 GWh by 2026, with expansion to 50 GWh by the end of the decade. This initiative follows its recent acquisition of a 35% stake in MG Motor India.
JSW Energy, a leading player in India’s power sector, is driving the shift towards sustainable energy with its diversified portfolio across thermal, hydro, and renewable energy sources. The company is focused on expanding its green energy capacity through strategic investments in wind and solar projects, aiming to achieve net-zero carbon emissions by 2050.
Known for operational efficiency and technological innovation, JSW Energy supports India’s growing energy needs while aligning with global sustainability goals. With a commitment to creating a cleaner and more resilient energy future, the company is cementing its position as a leader in the renewable energy landscape.
