Sajjan Jindal-promoted JSW Energy on Friday announced it has signed an agreement to acquire O2 Power’s green energy platform in a $1.47-billion enterprise value deal. This is JSW Energy’s biggest acquisition ever.
In a media statement, JSW Energy said its wholly owned subsidiary JSW Neo Energy will acquire the platform jointly established by EQT Infrastructure & Temasek.
The transaction values the platform at around Rs 12,468 crore ($ 1.47 billion), after adjusting for net current assets, said JSW Energy. Around 2.25 gigawatts (Gw) of capacity is to be operational by June 2025.
According to a JSW Energy presentation, there would be a further capital expenditure of Rs 13,000-14,000 crore, taking the platform’s full capacity to 4.6 Gw in the next few years.
