India’s JSW Neo Energy, a wholly owned renewable subsidiary of Indian power company JSW Energy, will acquire a portfolio of 1.75 GW of wind and solar capacity from the independent power producer Mytrah Energy for INR105bn (US$1.3bn).
The acquired assets include 1.33 GW of wind capacity held by Mytrah’s 10 special-purpose vehicles (SPVs), and 422 MW of solar held by seven SPVs. The plants, spread across 9 Indian states, are backed by long-term power purchase agreements (PPAs) with an average remaining life of around 18 years.
With this acquisition, JSW’s operational portfolio will increase from 4.8 GW to 6.5 GW, with an additional 2.5 GW of renewable projects in construction, putting the company on track to reach its objective of 10 GW capacity by 2025.
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