News In Brief March 13: JSW Neo Energy Acquisition, REC-Kerala Govt MoU

News In Brief Jan 31: KP Engineering Order, Fidra's BESS Project

JSW Neo Energy Acquires Virya Infrapower Signs Agreement  

JSW Neo Energy Limited (JSWNEL), a subsidiary of JSW Energy, has entered into a Share Purchase Agreement with Virya Infrapower. The company, while sharing the update in a regulatory filing, noted, “Under the agreement, JSW Neo Energy would acquire 100% shares of Virya Infrapower Private Limited, i.e., the target company. Consequently, Virya Infrapower Private Limited has become a step-down subsidiary of the company.”

Sharing details about the nature of the company, the filing mentioned, “Virya Infrapower Private Limited (“Target Company”), is engaged in the business of development of renewable projects in India and its related activities.”  Additionally, the transaction is for an enterprise value of Rs. 7.54 crores, subject to

REC Signs ₹18,360 Cr MoU With Kerala Govt.  For Pump Storage Projects

REC Limited, a Maharatna CPSE under the Ministry of Power and a leading NBFC, has signed an MoU with the Energy Management Centre (EMC), Government of Kerala, for collaboration and financing of Pumped Storage Projects (PSP) in Kerala. The MoU was signed during the Global Green Hydrogen & Renewable Energy Summit 2025. Under this agreement, REC intends to finance ₹18,360 crore in the PSP segment in Kerala over the next five years.