JSW Energy’s arm completes acquisition of 4.7 GW renewable energy platform

JSW Energy’s arm — JSW Neo Energy has completed the acquisition of 4.7 GW renewable energy platform from O2 Power for an enterprise value of Rs 12,468 crore. The total installed capacity now stands at 12.2 GW, with 54 per cent from renewable energy. It is a bold step towards JSW Energy’s 20 GW vision before 2030. 

Following the acquisition, the company will have a steady state EBITDA generation of Rs 1,500 crore from 2,259 MW capacity (likely to be operational by June 2025). Additionally, Rs 13,500 crore of capital expenditure will be incurred to reach 4,696 MW of capacity by June 2027, at which stage it will have a steady state annualised EBITDA of Rs 3,750 crore. As of FY 2025, O2 Power’s installed capacity stood at 1,343 MW. Consequently, JSW Energy’s FY 2025 installed capacity was at 12,212 MW, with RE capacity accounting for 6,554 MW (54 per cent of the total).

The acquired platform comprises 4,100 MW of Utility scale RE projects and commercial and industrial (C&I) capacity of 596 MW. Of the total platform capacity, 3,722 MW is tied-up under power purchase agreement (PPAs) with high-credit-quality off-takers comprising both utility scale and commercial and industrial (C&I) customers.

JSW Energy, part of the JSW Group, is a growing energy company. The Group has diversified interests in carbon steel, power, mining, industrial gases, port facilities, aluminium, cement and information technology.