JSW Energy Unit to Buy Renewable Assets from Mytrah Energy for Rs 10,530 Crore

JSW Neo Energy, a wholly owned subsidiary of JSW Energy has agreed to acquire a portfolio of 1,753 MW of Renewable Energy generation capacity from Mytrah Energy (India) Private Limited comprising of 17 SPVs and 1 Ancillary SPV.

Necessary definitive agreements have been signed between the parties. The transaction is subject to approval of the Competition Commission of India (CCI) and other customary approvals standard to a transaction of this size.

The transaction values the Mytrah Energy portfolio at an Enterprise Valuation of approximately ₹10,530 Crores, after adjusting for net current assets.

The Mytrah Portfolio consists of 10 Wind SPVs with a generation capacity of 1,331 MW and 7 Solar SPVs with a generation capacity of 422 MW (487 MWp DC), operating primarily in the southern, western and central parts of India.

The assets have a proven operational track record and long-term PPA with an average remaining life of 18 years.

“We are excited to acquire Mytrah’s 1.75 GW of renewable energy portfolio which is value accretive to our shareholders. This landmark deal demonstrates our strong commitment to achieve our vision of achieving 10 GW capacity by 2025 and being a leading player in India’s energy transition," said Prashant Jain, joint managing director and CEO of JSW Energy.

Pritesh Vinay, Director (Finance) and CFO of JSW Energy, said: “The acquisition of Mytrah’s portfolio by JSW Energy is significantly value accretive and consistent with our long track record of being prudent in capital allocation and focusing on high cash returns.