For an enterprise valuation of roughly Rs 6.3 billion, JSW Neo Energy, a subsidiary of JSW Energy, has successfully acquired 125 MW of renewable energy assets from Hetero Group. The portfolio consists of wind generating projects backed by long-term power purchase agreements that are situated in Andhra Pradesh and Maharashtra.
Three Special Purpose Vehicles (SPVs) held by Hetero Labs Ltd. and Hetero Drugs Ltd. were used to complete the deal. The portfolio’s average remaining plant life is 15 years, and its blended tariff is Rs 5.22 per kWh.
Stepdown companies of JSW Energy Limited, JSW Renew Energy Six Limited and JSW Renew Energy Thirty Limited, inked 25-year power purchase contracts with MSEDCL in October 2024 for a 1,200 MW solar-wind hybrid project at a tariff of Rs 3.6 per kWh, to be commissioned within 24 months.