NEW DELHI: JSW Renewable Energy (Coated) Limited, a wholly-owned subsidiary of JSW Neo Energy Limited, has agreed to acquire 45 MW of renewable energy generation capacity from Reliance Power Limited (RIL).
The capacity consists of a wind power project located in Jath, Sangli District, Maharashtra. The company said the transaction values the project at Rs 132 crore, adjusted for net working capital.
“A business transfer agreement has been signed by both parties,” the company said in the statement. “The transaction is subject to customary approvals standard for a transaction of this size.”
JSW Energy is a leading power producer in India and part of the $23 billion JSW Group, which has a significant presence in various sectors, including steel, energy, infrastructure, cement, and sports.
JSW Energy has a total locked-in generation capacity of 12.5 GW, comprising 7.2 GW of operational capacity, 2.6 GW under construction (across wind, thermal, and hydro), and Letters of Award/Intents for 2.7 GW capacity from SECI (Solar Tranche XIII and Wind Tranche XVI), SJVN, and GUVNL.
JSW Energy aims to reach 20 GW of generation capacity and 40 GWh of energy storage capacity by 2030. The company has also set an ambitious target of achieving carbon neutrality by 2050. Last year, JSW Energy made its largest acquisition to date, purchasing several solar and wind energy assets from Mytrah Energy’s Ravi Kailas for Rs 10,531 crore.