JSW Vitality Restricted introduced that it had efficiently acquired a 4.7 GW renewable vitality platform from O2 Energy Pooling Pte. Ltd. for an enterprise worth of roughly Rs 12,468 crore by its wholly owned subsidiary JSW Neo Vitality.
As of FY2025, O2 Energy has 1,343 megawatt (MW) put in capability, bringing JSW Vitality’s complete put in capability to 12,212 MW. Renewable vitality accounts for roughly 54%, or 6,554 MW. The acquisition is a key step towards JSW Vitality’s goal of switching to renewable vitality.
By June 2025, the platform’s 2,259 MW of capability is anticipated to provide a steady-state EBITDA of Rs 1,500 crore. JSW plans to scale the whole 4,696 MW by June 2027 with an additional Rs 13,500 crore in capital expenditures, leading to an anticipated steady-state EBITDA of Rs 3,750 crore yearly.
The acquired platform has 596 MW of C&I capability and 4,100 MW of utility-scale renewable vitality initiatives. PPAs with high-credit-quality off-takers, comparable to utility-scale, business, and industrial customers, are the recipients of three,722 MW of the platform’s complete capability.
A letter of award/intent was issued for 974 MW of capability; nonetheless, the PPA remains to be being processed. The acquired property are largely situated in western India and are unfold throughout seven resource-rich states. The portfolio contains a numerous vitality combine, with 1.8 GW of photo voltaic, 0.5 GW of wind, 1.6 GW of hybrid, and 0.9 GW of advanced options comparable to FDRE/RTC.
The platform’s common blended tariff is Rs 3.37 per kWh. PWC served as the corporate’s transaction advisor, Khaitan & Co. and Herbert Smith as its authorized advisors, KPMG as its monetary and tax due diligence, and Wind Guard as its technological due diligence agency.
Sharad Mahendra, JSW Vitality’s CEO and co-managing director, has high-quality properties in resource-rich states and a administration staff with a confirmed observe document of efficient planning and execution, that are included within the transaction.
Nicely earlier than 2030, this strategic acquisition brings us one step nearer to attaining our 20 GW capability aim. We will broaden sooner or later due to the extra 900 MW of connectivity that O2 Energy gives. It offers us nice pleasure to welcome the seasoned administration and staff of O2 Energy to the JSW Vitality household.
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