JSW Neo Energy Finalizes Acquisition of 4.7 GW Renewable Energy Platform from O2 Power

JSW Energy said on Wednesday that its subsidiary, JSW Neo Energy, has successfully completed the acquisition of a 4.7 GW renewable energy platform from O2 Power, with an enterprise value of ?12,468 crore. This acquisition brings the company’s total installed capacity to 12.2 GW, with 54% sourced from renewable energy. JSW Energy also emphasised that this move marks a significant milestone in its ambitious goal to reach 20 GW of capacity by 2030.

"We are excited to announce the successful completion of JSW Energy's largest acquisition to date—the acquisition of O2 Power, encompassing 4.7 GW of capacity. This strategic acquisition not only strengthens our portfolio with high-quality assets located in resource-rich states but also brings on board a seasoned management team and skilled employees, renowned for their exceptional track record in planning and execution," said Sharad Mahendra, Joint Managing Director and CEO of JSW Energy.

"This strategic acquisition accelerates our progress toward reaching our 20 GW capacity target, putting us in a strong position to achieve it well ahead of our 2030 goal," Mahendra added. Mahendra highlighted that O2 Power's additional 900 MW of connectivity will play a key role in supporting the company’s future growth. In 2020, O2 Power was founded as a joint venture between the European alternative asset manager EQT and Singapore’s Temasek.