JSW Energy's arm to acquire 12 SPVs of Mytrah Energy

India, March 29 -- JSW Energy's wholly-owned subsidiary -- JSW Neo Energy (JSWNEL) has agreed to acquire entire equity of 12 special purpose vehicles of Mytrah Energy (India) (MEIPL). In August 2022, JSWNEL had agreed to acquire a portfolio of 1,753 MW of renewable energy generation capacity from MEIPL comprising 17 SPVs and 1 Ancillary SPV.

The acquisition would help the company achieve a holistic completion of the transaction by allowing one of the 17 SPVs i.e. Mytrah Vayu (Sabarmati), which owns a 250 MW wind power plant, to have better exclusive holding rights to certain land parcels used by it. The transaction is expected to be completed by April 30, 2023 subject to fulfilment of conditions precedent set out in the SPA (share purchase agreement). The cumulative consideration payable for these 12 SPVs is Rs 1.82 crore.

JSW Energy, part of the JSW Group, is a growing energy company. The Group has diversified interests in carbon steel, power, mining, industrial gases, port facilities, aluminium, cement and information technology. Published by HT Digital Content Services with permission from Accord Fintech. For any query with respect to this article or any other content requirement, please contact Editor at contentservices@htlive.com