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JSW Neo Energy Limited, a wholly owned subsidiary of JSW Energy Limited, has successfully completed the acquisition of a 125 MW renewable energy portfolio from Hetero Labs Limited and Hetero Drugs Limited, collectively known as the Hetero Group. The acquisition involves three special purpose vehicles (SPVs) that hold the renewable energy assets, which are now subsidiaries of JSW Neo Energy and, as a result, step-down subsidiaries of JSW Energy.
The transaction values the renewable energy portfolio at approximately ₹630 Crores, excluding net current assets and other adjustments under the Share Purchase Agreements (SPAs). The acquired portfolio includes wind energy projects located in Andhra Pradesh and Maharashtra, which are supported by long-term power purchase agreements (PPAs). These projects have a blended tariff of ₹5.22 per kilowatt-hour and an average remaining plant life of approximately 15 years.
With this acquisition, JSW Neo Energy further strengthens its position in the renewable energy sector. The company now has a total locked-in capacity of 24.7 GW, consisting of a diverse fuel mix and various off-takers. This deal enhances the company’s renewable energy footprint and contributes to its growth trajectory in the green energy sector. The acquisition of the Hetero Group’s assets marks another important step in JSW Neo Energy’s strategy to expand its renewable energy portfolio and contribute to India’s clean energy goals.
