JSW Neo Energy to acquire O2 Power for Rs12,468 crore
Summary
JSW Neo has signed a definitive agreement to acquire O2 Power, an alternative energy platform jointly formed by Swedish asset management company EQT Infrastructure and Singapore’s Temasek. Power offtake is also more or less assured as the capacities are located in seven resource-rich states of India. The acquisition will take JSW Energy’s total power generation capacity to 24,708 MW, a 23 per cent increase from its current capacity of 20,012 MW, according to a stock market filing. The deal to acquire the 4.7 GW O2 Power is JSW Energy’s largest since its inception, which also makes the company one of India’s leding players in the energy sector, said Sharad Mahendra, joint managing director and CEO of JSW Energy. The transaction involves the acquisition of O2 Power Midco Holdings Pte Ltd and O2 Energy SG Pte Ltd and is subject to regulatory and customary approvals, JSW Energy stated.