NEW DELHI: Sajjan Jindal-promoted JSW Energy on Friday introduced an all-money deal to purchase green energy business of O2 Powerbacked by Swedish personal fairness agency EQT and Singapore’s state funding arm Temasek, for Rs 12,468 crore, or about $1.4 billion.
The largest acquisition by JSW is an element of its technique to obtain 20 gigawatts (GW) technology capability by April 2030 and anticipated to be accomplished May 26, topic to statutory approvals. The deal shall be carried out via JSW Energy subsidiary JSW Neo Energy, which can purchase 100% curiosity in O2 Power Midco Holdings Pte and O2 Energy SG Pte.
O2 Power was based in November 2019 by three former ReNew Power executives – Parag Sharma, Peeyush Mohit and Rakesh Garg. It has a 4.7 GW portfolio consisting of operational and underneath-building. renewable energy initiatives throughout seven states. These embrace 1,731 mega watt (MW), 475 MW wind, 1,580 MW hybrid and 910 spherical-the-clock renewable capability.
JSW expects to make additional capital expenditure of Rs 13,000-14,000 crore within the subsequent few years in O2 Power, with a blended common tariff of Rs 3.37 per unit.
