Liquidity Events
JSW Energy acquires RE platform from O2 Power for $1.47 B
Press Release Business Line JSW Neo Energy
Mumbai-based JSW Neo Energy , a wholly owned subsidiary of publicly listed JSW Energy, has acquired a 4,696 MW (4.7 GW) renewable energy platform from O2 Power Pooling Pte Ltd , (JV between PE funds EQT Infrastructure and Singapore-based Temasek) for INR 12,468 crore (about USD 1.47 Billion). PWC was the transaction advisor to the company, while Khaitan & Co and Herbert Smith were the legal advisors, KPMG carried out financial and tax due diligence and Wind Guard carried out the technical due diligence.The acquisition will leapfrog the company’s locked-in generation capacity by 23% from 20,012 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 next June, 1,463 MW is currently under construction and an additional 974 MW is planned for the pipeline.
In Jan 2020, O2 Power was setup as a JV between European alternative asset manager EQT and Temasek as a USD 500 million renewable energy platform in India.For FY24, O2 Power had reported about INR 1,337 Cr in Operating Income and about INR 16 Cr in PAT.
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