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.

JSW Energy will acquire the green energy business of O2 Power for Rs 12,468 crore in an all-cash deal, enhancing its portfolio with 4.7 GW of renewabl

India’s JSW Energy has agreed to buy clean energy projects from O2 Power Pooling for about US$1.5 billion in an all-cash deal.

European alternative asset manager EQT and Singapore’s Temasek hold 51% and 49%, respectively, in O2 Power that has a capacity of 4.7GW renewable energy. They both will exit the company, founded by former ReNew Power executives Parag Sharma,

The acquisition would help the company in achieving its renewable-led capacity growth target of 20 gigawatt (GW) before fiscal 2030, the company said in its statement.

JSW Neo Energy, a wholly owned subsidiary of JSW Energy, on Friday signed a definitive agreement to acquire 4.7 gigawatt (GW)from O2 Power for a total enterprise value of Rs 12,468 crore.

JSW Energy’s wholly-owned subsidiary JSW Neo Energy on Friday signed an agreement to acquire a 4,696-megawatt (MW) renewable energy portfolio from O2 Power Pooling, a platform jointly established by EQT Infrastructure and Temasek.