JSW Neo Energy's Bold Move: Acquiring Renewable Giant O2 Power

JSW Neo Energy, a subsidiary of JSW Energy from the JSW Group, has received approval from the Competition Commission of India to acquire 100% stake in O2 Power Midco Holdings and O2 Energy SG. This acquisition involves a 4,696 MW renewable energy platform valued at Rs 12,468 crore.

The Competition Commission of India (CCI) has given the green light to an influential acquisition plan involving JSW Neo Energy. This subsidiary, under the umbrella of JSW Energy, will take full control of O2 Power Midco Holdings and O2 Energy SG.

JSW Neo Energy's decision marks a significant move in the power sector, emphasizing their ambition in renewable energy. The acquisition encompasses a 4,696 MW renewable energy platform, which holds an enterprise value of Rs 12,468 crore as reported by the company.

O2 Power's renewable generation is a significant part of this plan, with operational, under-construction, and planned projects bringing substantial capacity. This milestone reflects JSW's growing influence in sustainable energy resources.

(With inputs from agencies.)