Published by Global Banking & Finance Review®
Posted on December 27, 2024
2 min readLast updated: January 27, 2026
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JSW Energy will acquire O2 Power's units for $1.47 billion, enhancing its renewable capacity to meet India's 2030 clean energy goals.
(Reuters) - Indian billionaire Sajjan Jindal-led JSW Energy said on Friday its JSW Neo Energy unit will acquire renewable energy platform O2 Power's subsidiaries in a deal worth $1.47 billion.
The acquisition aligns with JSW Energy's target of achieving 20 GW renewable-led capacity before fiscal 2030 amid a strong government push for higher clean energy capacity.
JSW Energy will acquire a renewable portfolio of 4.7 GW from O2 Power, which is backed by Singapore state-owned Temasek and EQT Infrastructure.
EQT will exit O2 Power following the deal, the Sweden-based private equity firm said in a filing.
About 2.26 GW of capacity will be operational by June 2025, with the remainder scheduled to be commissioned by June 2027.
The proposed acquisition is expected to be completed on or before May 26, 2025, according to an exchange filing.
The JSW Group company's renewable energy segment is its second-biggest revenue generator, as per JSW Energy's September quarter earnings report.
The Indian government is ramping up investments in the renewable energy sector as it pushes to meet its 2030 clean energy target after falling short of its much-publicized 2022 renewables goal.
(Reporting by Manvi Pant in Bengaluru; Editing by Tasim Zahid)
The article discusses JSW Energy's acquisition of O2 Power's units for $1.47 billion to boost renewable energy capacity.
O2 Power is backed by Singapore state-owned Temasek and EQT Infrastructure.
JSW Energy aims to achieve a renewable-led capacity of 20 GW by fiscal 2030.
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