JSW Neo Energy Limited to Acquire Hetero Group RE Portfolio

JSW Energy to Acquire Hetero Group RE Portfolio

JSW Neo Energy Limited (JSWNEL), a wholly owned subsidiary of JSW Energy Limited, signed definitive agreements this week, to acquire three Special Purpose Vehicles (SPVs) from Hetero Labs Limited and Hetero Drugs Limited (Hetero Group). These SPVs collectively hold a cumulative wind energy generation capacity of 125 megawatts (MW). The transaction is subject to the necessary approvals, and once completed, the SPVs will become subsidiaries of JSWNEL and step-down subsidiaries of JSW Energy.

The three SPVs being acquired include Hetero Wind Power Limited, Hetero Wind Power (Pennar) Private Limited, and Hetero Med Solutions Limited. Together, these companies generated a combined revenue of INR 143.5 crores during the financial year 2023-24.

JSW Energy has set a target to achieve 10 gigawatts (GW) of power generation capacity by the financial year 2025 and 20 GW by 2030. The company’s renewable energy projects cover sectors such as wind, solar, and hydroelectric power. To meet the 10 GW target by 2025, JSW Energy plans to expand its portfolio through wind and solar energy projects. These projects already make up a major chunk of its existing 7 GW capacity, with ongoing developments of wind farms and solar installations across various states in India.

By 2030, JSW Energy aims to achieve its 20 GW target by making larger investments in wind, solar, and hydroelectric projects. The company also plans to explore new technologies, including battery energy storage systems. Additionally, JSW Energy is to diversify into hybrid renewable projects that combine solar and wind power with energy storage, ensuring a more stable and reliable energy supply.