JSW Renewable Energy Coated Limited, a wholly-owned subsidiary of JSW Neo Energy Limited, announced its acquisition of 45 MW of Renewable Energy generation capacity from Reliance Power Limited for Rs 132 crore.
The wind project is situated in Jath, Sangli District, Maharashtra. The transaction value of Rs 132 crores for the project has been adjusted for net working capital, according to the company’s press statement.
A Business Transfer Agreement has been finalized between the two parties, subject to customary approvals expected for a transaction of this magnitude.
JSW Energy currently boasts a total locked-in generation capacity of 12.5 GW, including 7.2 GW in operation and 2.6 GW under construction across wind, thermal, and hydro projects. Additionally, it holds LoA/LoIs for 2.7 GW capacity from SECI (Solar Tranche XIII and Wind Tranche XVI), SJVN, and GUVNL.
Moreover, the company has secured 3.4 GWh of locked-in energy storage capacity through a battery energy storage system and a hydro-pumped storage project. With aspirations to achieve 20 GW generation capacity and 40 GWh of energy storage capacity by 2030, JSW Energy has set an ambitious target of attaining Carbon Neutrality by 2050.
JSW Energy Ltd, a component of the $23 billion JSW Group, is currently engaged in the construction of various power projects totaling 2.6 GW, aiming to achieve a total power generation capacity of 20 GW by 2030.
