JSW Neo Energy, a subsidiary of JSW Energy, has announced a definitive agreement to acquire a 4,696MW renewable energy platform from O2 Power Pooling, a joint venture between EQT Infrastructure and Temasek.

Building new plants involves a gestation period. There are inordinate delays in land acquisition, regulatory clearances, arranging for power evacuation etc. O2 Power has everything in place and has already tied up for offtake of power.

The shares of JSW Energy witnessed a sharp rally of almost 8% in early trading on Monday, December 30, following the company’s announcement of a major acquisition. JSW Energy, through its wholly-owned subsidiary JSW Neo Energy Limited (JSWNEL),

The entities to be acquired by JSW Energy have a consolidated operation and under development renewable energy portfolio of 4.7 GW in India.

The uptick in JSW Energy share price came after its arm, JSW Neo, signed a definitive agreement with O2 Power to acquire 4,696 MW of renewable energy (RE) platform for $1.47 billion

JSW Energy acquired O2 Power, a renewable energy platform, for ₹12,468 Crore, making it the company’s largest acquisition to date. The acquisition will increase JSW Energy’s generation capacity by 23%, from 20,012 megawatts (MW) to 24,708 MW.

O2 Power is a renewable energy platform with a capacity of 4,696 MW – where 2,259 MW will be operational by June 2025

JSW Energy's acquisition of O2 Power expected to boost EBITDA, strengthen market position, and create shareholder value.

JSW Energy share price gained almost 8% on Monday in the morning trades as it announced plans to acquire 100% interest in O2 Power Midco Holdings, O2 Energy SG Pte. Limited and subsidiaries