JSW Energy to acquire Mytrah Energy assets for Rs10,530-Cr

A wholly owned subsidiary of JSW Energy, JSW Neo Energy, announced on Wednesday that it has reached an agreement to pay Rs 10,530 crore to Mytrah Energy (India) to buy a portfolio of 1,753 MW of renewable energy producing capacity. 

The parties have executed the necessary final agreements. According to a statement from JSW Energy, the deal is pending approval from the Competition Commission of India (CCI) and other customary approvals required for a deal of this nature.

After accounting for net current assets, the deal values the Mytrah Energy portfolio at an Enterprise Valuation of roughly Rs 10,530 crore, according to the statement. The Mytrah Portfolio comprises of 10 Wind SPVs with 1,331 MW of generation capacity and 7 Solar SPVs with 422 MW (487 MWp DC) of generation capacity. These SPVs predominantly operate in the southern, western, and central regions of India. The assets have a long-term PPA with an average remaining life of 18 years and a track record of successful operations.

Since its founding, JSW Energy has made several big acquisitions, but this one would increase the company's operating generation capacity by more than 35%, from 4,784 MW to 6,537 MW. 

Moreover, the platform capacity of JSW Energy is increased to 9.1 GW, where the share of renewable energy rises to 65%, thanks to approximately 2,500 MW of wind and hydro projects that are currently under construction and are anticipated to be commissioned in phases over the next 18 to 24 months.

 Further, this is probably going to assist the corporation in exceeding deadlines and attaining its 10 GW renewable-led capacity development target by FY25.

OYO acquires Denmark-based Bornholmske Feriehuse

HPCL and Honda collaborate to boost electric mobility

Tata Motors' EV arm acquires Ford's plant in Gujarat in Rs726 cr

 

- Sponsored Advert -

Most Popular

- Sponsored Advert -