Energy Central Professional


JSW Group Signs Exclusivity Agreement to Acquire Mytrah Energy

Gulf Oil & Gas  


    JSW Group, an Indian conglomerate, has reportedly signed an exclusivity agreement to acquire renewable energy company Mytrah Energy India.

    The deal, if executed, will give Mytrah Energy an enterprise valuation of up to $2bn, reported livemint, citing two sources having knowledge of the development.

    Mytrah Energy has built more than 1.8GW of operational renewable energy assets, according to its website. The assets include 17 wind farms and 21 solar power plants in nine Indian states, that include Punjab, Rajasthan, Madhya Pradesh, Gujarat, Karnataka, Maharashtra, Andhra Pradesh, Telangana, and Tamil Nadu.

    The Hyderabad-based firm mainly sells power to state grids under power purchase agreements ranging between 13 and 25 years. Barclays? Bank? is? said? to? have been roped in to manage? the? sale? of ? Mytrah Energy.

    Last month, it was reported that JSW Group alongside Singapore-based Sembcorp Industries, and Enfinity Global were shortlisted to acquire the green energy company.

    Mytrah Energy was established in 2009. The following year, it got a listing on London’s Alternative Investment Market (IAM) by raising equity of $80m.

    In 2018, the company’s founder and chairman Ravi Kailas purchased shares from other shareholders via a special purpose vehicle called Raksha Energy to delist it.

    JSW Group, through its subsidiary JSW Energy, presently produces 4.56GW of electricity. Of this, 3.16GW is thermal power, 1.4GW is hydropower, and 10MW is solar power.


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.