support@headlinenews360.com
JSW Energy Ltd. JSW Neo, its subsidiary, has announced the acquisition of renewable energy platform O2 Power. This acquisition is considered to be the biggest deal in the history of the company. The agreement O2 Power Midco Holdings Pte. and O2 Energy SG Pte. This will be done through acquisition. However, this deal will be finalized only after the approval of the Competition Commission of India (CCI). The company had made this information public through exchange filing on Friday.
Advantages of acquisition
JSW Energy said that this acquisition will increase the total production capacity of the company by 23%. After the acquisition of O2 Power, the capacity of JSW Energy will increase from 20,012 MW to 24,708 MW. O2 Power’s projects are spread across seven major resource-rich states of India.
Sharad Mahendra, Managing Director and CEO, JSW Energy, said, “This acquisition is a milestone for us. It will further strengthen our position in India’s energy sector. These high-quality assets will help us expand our operations across several key states. “Will help.”
What does O2 Power do?
O2 Power is a renewable energy platform, with a total capacity of 4,696 MW. Out of this, a capacity of 2,259 MW will become operational by June 2025. 1,463 MW projects are under construction, while 974 MW capacity will be commissioned by June 2027. The platform operates with an average tariff rate of Rs 3.37 per unit and an estimated residual life of 23 years.
Financial details of the deal
JSW Energy said that the enterprise value of this deal is approximately Rs 12,468 crore. In this the net current assets will be adjusted. O2 Power’s high-quality assets will help JSW Energy establish a leading position in the renewable energy sector.
JSW Energy shares
On Friday, shares of JSW Energy closed at Rs 625.80 with a fall of 2%. The current market capital of the company is Rs 1,09,244 crore. In the last 52 weeks, its lowest level has been Rs 404 and highest level has been Rs 804.90.
Disclaimer: (The information provided here is being provided for information only. It is important to note here that investment in the market is subject to market risks. Always seek expert advice before investing money as an investor. ABPLive.com does not advise anyone It is never advisable to invest money here.)
