JSW Energy completes acquisition of 125 MW renewables from Hetero group – EQ
In Short : JSW Neo Energy, a subsidiary of JSW Energy, has completed the acquisition of 125 MW of renewable energy assets from Hetero Labs and Hetero Drugs. The wind projects, located in Andhra Pradesh and Maharashtra, were acquired for ₹630 crore. This acquisition supports JSW Energy’s goal of expanding its renewable capacity to 10 GW by FY 2025 and 20 GW by 2030.
In Detail : JSW Energy on Friday said its arm JSW Neo Energy has completed the acquisition of 125 MW of renewable energy assets from Hetero Group for an enterprise value of about Rs 630 crore.
The 125 MW portfolio comprises wind projects located in Andhra Pradesh and Maharashtra and have long term power purchase agreements, a regulatory filing said.
According to the filing, JSW Neo Energy Ltd (JSW Neo), a wholly-owned subsidiary of JSW Energy, has completed the acquisition of 125 MW of renewable energy assets from Hetero Labs Ltd and Hetero Drugs Ltd housed under three Special Purpose Vehicles (SPVs).
The portfolio has a blended tariff of Rs 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’s portfolio at an enterprise valuation of approximately Rs 630 crore, excluding net current assets and other adjustments under SPAs (Share Purchase Agreements), it stated.
