JSW Energy acquires 45 MW wind project of Reliance Power for Rs 132 crore

JSW Energy

Sajjan Jindal-promoted JSW Energy has agreed to acquire 45 MW of wind energy generation capacity from Anil Ambani-led Reliance Power Limited, the company said in an exchange filing on March 22.

"JSW Renewable Energy (Coated) Limited, a wholly-owned subsidiary of JSW Neo Energy Limited (or “JSW Neo”) and a step down subsidiary of JSW Energy Limited (or “the Company”), has agreed to acquire 45 MW of renewable energy generation capacity from Reliance Power Limited. The capacity consists of wind power project located at Jath, Sangli district, Maharashtra. The transaction values the project at Rs 132 crore adjusted for net working capital," the company said in a statement.

A Business Transfer Agreement has been signed between the parties and the transaction is subject to other customary approvals standard to a transaction of this size.

JSW Energy has total locked-in generation capacity of 12.5 GW comprising of 7.2 GW operational, 2.6 GW under-construction across wind, thermal and hydro and LoA/LoIs for 2.7 GW capacity from SECI (Solar Tranche XIII and Wind Tranche XVI), SJVN and GUVNL.

In addition, the company has 3.4 GWh of locked-in energy storage capacity through battery energy storage system and hydro pumped storage project. The company aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. JSW Energy has set an ambitious target of achieving carbon neutrality by 2050.