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JSW Neo Energy to Acquire 12 Special Purpose Vehicles of Mytrah Energy

The acquisition of the 12 SPVs is anticipated to be concluded by April 30, 2023, an accruing amount payable for these 12 SPVs is around INR 1.82 crore.

March 29, 2023. By EI News Network

JSW Energy has declared that its subsidiary, JSW Neo Energy Ltd (JSWNEL), will acquire an overall equity of 12 special purpose vehicles (SPVs) of Mytrah Energy (India) Pvt Ltd (MEIPL) to accomplish a comprehensive fulfilment of its transaction.

The recent acquisition will assist Mytrah Vayu (Sabarmati) Pvt Ltd, which possesses a 250 MW wind power plant, to have better exclusive holding rights to certain land portion utilised by it.

The negotiation is matter to the fulfilment of conditions model put forth in the share purchase agreement (SPA).

Specifically, in the month of August 2022, JSW Neo Energy Ltd. undertake to acquire an operational profile of 1,753 MW of renewable energy production capacity from MEIPL, including 17 SPVs and one ancillary SPV (transaction).

The acquisition of the 12 SPVs is anticipated to be concluded by April 30, 2023, an accruing amount payable for these 12 SPVs is around INR 1.82 crore.

This step will further boost JSW Energy’s position as a progressive renewable energy company in India.

JSW Neo Energy Limited is a private entity started on 06 July 2021. It is categorised as Non-government company along with is registered headquarter in Mumbai.

Mytrah Energy is an entity that provides cutting-edge solutions in the clean energy sector. The company is based in London, UK, the Mytrah Group is concentrated on serving sustainable energy in an international market.

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JSW Neo Energy

Mytrah Energy

Special Purpose Vehicle

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