JSW Vitality subsidiary to take over O2 Energy for Rs 12,468 cr

JSW Neo Vitality Restricted, a subsidiary of JSW Vitality Ltd, has entered into a proper settlement to buy O2 Energy, a renewable vitality platform based in partnership by EQT Companions of Sweden and Temasek Holdings of Singapore. The platform is valued at an enterprise valuation of Rs 12,468 crore ($1.47 billion) after changes for internet present property.

JSW Vitality has accomplished its largest acquisition thus far, as introduced in a press launch.

In accordance with JSW Vitality, the platform, with a capability of two.25 gigawatts (GW), is anticipated to be operational by June 2025. A presentation by JSW Vitality indicated an extra capital expenditure of Rs 13,000-14,000 crore , which can improve the platform’s whole. capability to 4.6 GW within the coming years

In a inventory market submitting, JSW Vitality mentioned: “O2 Energy is a renewable vitality platform with a capability of 4,696 MW – of which 2,259 MW will likely be operational by June 2025, 1,463 MW are at present underneath building and an extra 974 MW are underneath building. pipeline, all scheduled to be commissioned by June 2027. The platform has a blended common tariff of Rs 3.37/KWh with remaining life”

The acquisition will contain acquiring O2 Energy Midco Holdings Pte. Ltd. and O2 Vitality SG Pte. Ltd, awaiting approval from the Competitors Fee of India (CCI) and different commonplace regulatory approvals for a transaction of this magnitude, as said by JSW Vitality.

Sharad Mahendra, Joint Managing Director and CEO of JSW Vitality, mentioned: “We’re delighted to announce the acquisition of O2 Energy’s 4.7 GW renewable vitality platform, which is the biggest acquisition in JSW Vitality since its inception. This historic acquisition strengthens our place as a serious participant within the Indian vitality sector. These high-quality property strengthen our operational footprint in key resource-rich states. It provides me nice pleasure to welcome the skilled administration group and staff of O2 Energy to the JSW Vitality household. By combining our strengths, I’m assured we’ll ship distinctive worth to our stakeholders.