JSW Energy subsidiary to acquire 150 MW Tidong hydro power project for ₹1,728 crore
The acquisition involves a substantial cash consideration of ₹1,728 crores for a 150 MW under-construction project, significantly contributing to the company's ambitious 30 GW capacity target and enhancing its renewable energy portfolio, thus having a high impact on its strategic goals and financial outlay.
The acquisition of a 150 MW hydro power project significantly contributes to JSW Energy's renewable energy growth targets, strengthens its market position in hydro power, and increases its overall generation capacity, indicating strategic expansion.
* JSW Neo Energy Limited, a wholly-owned subsidiary of JSW Energy Limited, has signed a definitive agreement to acquire 100% equity shares of Tidong Power Generation Private Limited (TPGPL) from Statkraft IH Holding AS. * The acquisition is for a 150 MW under-construction hydro power project located in the Tidong Valley, Kinnaur district, Himachal Pradesh, at an Enterprise Valuation of approximately ₹1,728 crores, payable in cash. * The project is expected to be commissioned in October 2026 and includes a ~22-year Power Purchase Agreement (PPA) for 75 MW with Uttar Pradesh Power Corporation Ltd at a tariff of ₹5.57/KWh during May to October. The remaining 75 MW capacity is untied. * Upon completion, expected on or before 15th January 2026, TPGPL will become a step-down subsidiary of JSW Energy Limited. The transaction is subject to necessary regulatory and customary approvals. * This acquisition increases JSW Energy's locked-in generation capacity to 30.5 GW, including 1.8 GW of hydro capacity, and aligns with its target to reach 30 GW generation capacity and 40 GWh storage capacity by FY 2030, with renewable energy contributing 70%. * Mr. Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, stated that this acquisition strengthens their position as the largest private hydro power player in India and provides skilled manpower for upcoming pumped-hydro storage projects. * TPGPL reported revenue from operations of INR 39 crores (unaudited) in FY 2024-25.
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JSW Energy Limited filed this with the NSE as a statutory disclosure, categorised under mergers & acquisitions. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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