Sunday, October 2 2022 Sign In   |    Register

News Quick Search



Front Page
Power News
Today's News
Yesterday's News
Week of Sep 26
Week of Sep 19
Week of Sep 12
Week of Sep 05
Week of Aug 29
By Topic
By News Partner
Gas News
News Customization


Pro Plus(+)

Add on products to your professional subscription.
  • Energy Archive News

    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    India's JSW Energy to buy 1.75 GW of wind, solar from Mytrah

    August 11, 2022 - SeeNews Renewables


      August 11 (Renewables Now) - Indian power company JSW Energy Ltd (BOM:533148), through wholly-owned subsidiary, is set to acquire a portfolio of 1,753 MW of wind and solar capacity from independent power producer Mytrah Energy (India) Private Limited, it said on Wednesday.

      JSW Neo Energy signed an agreement to take over 17 special purpose vehicles (SPVs) and one ancillary SPV in a deal that values Mytrah Energy’s portfolio at an enterprise value of around INR 105.3 billion (USD 1.32bn/EUR 1.28bn).

      In the portfolio are ten SPVs holding 1,331 MW of wind power, and seven SPVs with 422 MW/487 MWp of solar generation, operating primarily in the southern, western and central parts of India, JSW Energy said.

      The plants are backed by long-term power purchase agreements (PPAs) with an average remaining life of around 18 years.

      The acquisition, the largest ever for JSW Energy, requires the green light from India’s competition authority and is subject to other customary approvals.

      Once the deal is finalised, JSW Energy’s operational portfolio will get a boost to 6,537 MW from today’s 4,784 MW. To this, the company will add around 2,500 MW of wind and hydro power capacity that is currently under construction. These projects will likely be commissioned in phases over the next 18 to 24 months.

      “We are excited to acquire Mytrah’s 1.75 GW of renewable energy portfolio which is value accretive to our shareholders on day one,” commented Prashant Jain, joint managing director and CEO of JSW Energy.

      “This landmark deal demonstrates our strong commitment to achieve our vision of achieving 10 GW capacity by 2025 and being a leading player in India’s Energy Transition. This acquisition further strengthens and diversifies our operating footprint across various key resource rich states,” Jain added.

      (INR 100 = USD 1.258/EUR 1.216)


    Other Articles - International


       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2022 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.