Power Play: JSW Neo Energy Acquires Tidong for Rs 1,728 Cr

JSW Neo Energy, a wholly-owned subsidiary of JSW Energy, has signed a definitive agreement with Statkraft IH Holding to acquire 100% equity in Tidong Power Generation for a consideration of Rs 1,728 crore.

The transaction, disclosed in a regulatory filing, is subject to customary closing conditions and regulatory approvals. The acquisition values Tidong Power at approximately Rs 1,728 crore, with final adjustments to be made in accordance with the terms of the share purchase agreement.

This strategic acquisition reinforces JSW Energy’s commitment to expanding its renewable energy portfolio, enhancing its presence in India’s growing clean energy sector. It aligns with the company’s long-term sustainability goals and supports its broader vision to become a leading player in the low-carbon power generation market.

News by Rahul Yelligetti.