JSW Neo Energy Acquires 125 MW RE Assets from Hetero Group for INR 630 Crore
JSW Neo Energy has completed the acquisition of 125 MW of renewable energy assets comprising wind projects located in Andhra Pradesh and Maharashtra from Hetero Labs and Hetero Drugs for INR 630 crore, expanding its clean energy portfolio.
January 13, 2025. By Mrinmoy Dey
“The 125 MW portfolio comprises wind projects located in the states of Andhra Pradesh and Maharashtra and have long-term power purchase agreements,” the company informed in a regulatory filing.
It further added that the portfolio has a blended tariff of INR 5.22/kWh and an average remaining plant life of ~15 years. The total locked-in capacity of the company stands at 24.7 GW which consists of a diverse fuel mix and offtakers.
“The transaction values the Hetero portfolio at an Enterprise Valuation of approximately INR 630 crore, excluding net current assets and other adjustments under SPAs (Share Purchase Agreements),” it said.
JSW Energy is presently constructing various power projects to the tune of 8.3 GW, with a vision to achieve a total power generation capacity of 20 GW before the year 2030. It also aims 40 GWh of energy storage capacity before 2030. JSW Energy has set a target of achieving carbon neutrality by 2050.
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