JSW Energy Completes Acquisition of 150 MW Tidong Power for ~₹1728 Crore
JSW Energy's subsidiary JSW Neo Energy has acquired Tidong Power Generation Private Limited for an enterprise valuation of ~₹1728 crore. Tidong Power is developing a 150 MW hydro plant in Himachal Pradesh, expected to commission in Oct-26. The acquisition strengthens JSW Energy's hydro portfolio and is projected to be value-accretive.
The acquisition is significant as it adds a substantial hydro asset to the company's portfolio and reinforces its market position, but it does not represent a transformative change to the company's overall scale.
The acquisition of a new power generation asset, especially one with a long-term PPA and expected operational synergies, is a positive development for the company's growth and future earnings.
JSW Energy Limited announced that its wholly-owned subsidiary, JSW Neo Energy Limited (JSWNEL), has successfully completed the acquisition of Tidong Power Generation Private Limited (Tidong Power) from Statkraft IH Holding AS. This acquisition, initially announced on September 18, 2025, marks Tidong Power as a step-down subsidiary of JSW Energy.
The transaction values the asset at an Enterprise Valuation of approximately ₹1728 crore, excluding net current assets and other adjustments. Tidong Power is developing a 150 MW run-of-river hydroelectric power plant in Kinnaur district, Himachal Pradesh, with an expected commissioning in October 2026. The project has a long-term Power Purchase Agreement with Uttar Pradesh Power Corporation Ltd for 75 MW during May-October at ₹5.57/KWh, with the remaining 75 MW available for the merchant market.
This acquisition adds JSW Energy's fourth hydro asset in Himachal Pradesh, reinforcing its position as India's largest private hydropower player. The company anticipates that Tidong Power will be value-accretive and enhance EBITDA in FY27 due to its remunerative tariff and operational synergies with the Karcham Wangtoo plant.
JSW Energy's total locked-in generation capacity stands at 32.1 GW, with 13.3 GW operational and 14.2 GW under construction. The company aims for 30 GW generation capacity and 40 GWh of energy storage by 2030, targeting Carbon Neutrality by 2050.
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JSW Energy Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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