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JSW Energy acquires RE Portfolio of Mytrah Energy

Thursday, 30 Mar 2023
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JSW Neo Energy (JSW Neo), a wholly-owned subsidiary of JSW Energy has completed the acquisition of 1,753 MW of renewable energy (RE) assets from Mytrah Energy India (MEIPL).

This includes 15 special purpose vehicles (SPVs) and 13 ancillary SPVs having 1,449 MW of total installed RE capacity. As part of the acquisition, 28 subsidiaries of MEIPL have now become subsidiaries of JSW Neo, and accordingly step-down subsidiaries of JSW Energy.

The Mytrah Energy portfolio is valued at approximately Rs 10,150 crore in the transaction.

This is the largest acquisition made by JSW Energy so far, which will leapfrog the current operational capacity from 4,811 MW to 6,564 MW. With the acquisition, its total locked-in capacity stands at 9.9 GW of which total renewable capacity stands at around 6.0 GW. It has about 2.9 GW of under-construction projects which are likely to be commissioned over the next 12-18 months.

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