25 March 2024 – JSW Renewable Energy (Coated) Limited, a subsidiary of JSW Neo Energy Limited, has finalized the acquisition of 45 MW of renewable energy capacity from Reliance Power Limited (RIL). The acquired capacity comprises a wind power project situated in Jath, Sangli District, Maharashtra, with a transaction value of Rs 132 crore, adjusted for net working capital.
The agreement, formalized through a business transfer agreement, is contingent upon customary approvals standard for transactions of this magnitude. JSW Energy, a prominent power producer in India and part of the JSW Group, reinforces its commitment to renewable energy expansion through this strategic acquisition.
With a locked-in generation capacity of 12.5 GW, including operational, under-construction, and awarded capacities, JSW Energy aims for substantial growth, targeting 20 GW of generation capacity and 40 GWh of energy storage capacity by 2030. Additionally, the company has set an ambitious goal of achieving carbon neutrality by 2050.
This acquisition aligns with JSW Energy’s broader sustainability initiatives and complements its previous strategic moves in the renewable energy sector, including the significant acquisition of solar and wind assets from Mytrah Energy last year.
