Private Equity

PE Fund Investments

JSW Energy arm to buy Mytrah Energy's renewables portfolio in Rs.10,530-Cr deal

BSE Disclosure  

JSW Neo Energy Ltd (JSWNEL), a wholly-owned subsidiary of publicly-listed JSW Energy Ltd, is to acquire a portfolio of 1,753 MW of renewable energy generation capacity from Mytrah Energy (India) Pvt Ltd (MEIPL) comprising of 17 SPVs (special purpose vehicles) and 1 ancillary SPV at an enterprise value of INR 10,531 crore. The acquisition portfolio consists of 10 wind SPVs with capacity of 1,331 MW and 7 solar SPVs with a capacity of 422 MW (487 MWp DC) and 1 ancillary SPV. Revenue from operations (cumulative) in FY 2021-22 for the 18 SPVs was INR 1,467 crore (provisional) . The SPVs acquired include: Mytrah Vayu (Pennar), Bindu Vayu Urja, Mytrah Vayu (Krishna), Mytrah Vayu (Manjira), Mytrah Vayu Urja, Mytrah Vayu Indravati, Mytrah Vayu (Godavari), Mytrah Vayu (Som), Mytrah Vayu (Tungabhadra), Mytrah Vayu (Sabarmati), Mytrah Aadhya Power, Mytrah Aakash Power, Mytrah Abhinav Power, Mytrah Adarsh Power, Mytrah Agriya Power, Mytrah Advaith Power, Mytrah Akshaya Energy and Nidhi Wind Farms. KPMG India Services LLP were the transaction advisors to the acquirer company, while Khaitan & Co. acted as the legal advisors. PricewaterhouseCoopers Services LLP carried out financial and tax due diligence.