JSW Energy, led by Sajjan Jindal, has announced its agreement to purchase 45 MW of wind energy generation capacity from Reliance Power Limited, chaired by Anil Ambani, as per an exchange filing on March 22.
According to the statement, JSW Renewable Energy (Coated) Limited, a wholly-owned subsidiary of JSW Neo Energy Limited, which itself is a subsidiary of JSW Energy Limited, will undertake the acquisition. The wind power project is situated in Jath, Sangli district, Maharashtra, with the transaction valuing the project at Rs 132 crore after adjusting for net working capital.
The agreement has been formalized through a Business Transfer Agreement, with the completion of the transaction subject to customary approvals typical for such deals.
JSW Energy boasts a total locked-in generation capacity of 12.5 GW, comprising 7.2 GW operational, 2.6 GW under-construction across wind, thermal, and hydro sectors, along with LoAs/LoIs for 2.7 GW capacity from SECI, SJVN, and GUVNL. Additionally, the company has secured 3.4 GWh of locked-in energy storage capacity through battery energy storage systems and hydro pumped storage projects. With ambitions to scale up, JSW Energy aims to achieve 20 GW generation capacity and 40 GWh of energy storage capacity by 2030. Furthermore, the company has set a target to attain carbon neutrality by 2050.
