JSW Neo Energy, a subsidiary of JSW Energy, has announced a definitive agreement to acquire a 4,696MW renewable energy platform from O2 Power Pooling, a joint venture between EQT Infrastructure and Temasek.

The entities to be acquired by JSW Energy have a consolidated operation and under development renewable energy portfolio of 4.7 GW in India.

The shares of JSW Energy witnessed a sharp rally of almost 8% in early trading on Monday, December 30, following the company’s announcement of a major acquisition. JSW Energy, through its wholly-owned subsidiary JSW Neo Energy Limited (JSWNEL),

Indian billionaire Sajjan Jindal-led JSW Energy said on Friday its JSW Neo Energy unit will acquire renewable energy platform O2 Power's subsidiaries in a deal worth $1.47 billion. The acquisition aligns with JSW Energy's target of achieving 20 GW renewable-led capacity before fiscal 2030 amid a strong government push for higher clean energy capacity.

Building new plants involves a gestation period. There are inordinate delays in land acquisition, regulatory clearances, arranging for power evacuation etc. O2 Power has everything in place and has already tied up for offtake of power.

The uptick in JSW Energy share price came after its arm, JSW Neo, signed a definitive agreement with O2 Power to acquire 4,696 MW of renewable energy (RE) platform for $1.47 billion

The JSW Energy stock reacted positively to the brokerage reports and opened over 4% in the green on Monday morning.

JSW Energy acquired O2 Power, a renewable energy platform, for ₹12,468 Crore, making it the company’s largest acquisition to date. The acquisition will increase JSW Energy’s generation capacity by 23%, from 20,012 megawatts (MW) to 24,708 MW.

JSW Energy's acquisition of O2 Power expected to boost EBITDA, strengthen market position, and create shareholder value.

Shares of JSW Energy rose 7.7% as its subsidiary JSW Neo Energy signed a definitive agreement to acquire O2 Power's 4.7 GW renewable energy portfolio for Rs 12,468 crore. The acquisition is aimed at achieving JSW Energy's 20 GW renewable-led capacity growth target by FY 2030.