Reliance Power Transfers 45 MW Vashpet Wind Project to JSW Renewable Energy
The Wind Power Project, located at Jath, Sangli in Maharashtra, is a key asset engaged in the generation of power using renewable energy sources.
April 15, 2024. By Abha Rustagi
In a regulatory filing, Reliance Power stated, "In furtherance to our letter dated March 22, 2024, we wish to inform that in terms of the Business Transfer Agreement, the Company has concluded the slump sale/transfer of its 45 MW Wind Power Project located at Vashpet, Maharashtra to JSW Renewable Energy (Coated) Limited and the consideration amounting to INR 132.39 crore (net of TDS) has been received."
The Wind Power Project, located at Jath, Sangli in Maharashtra, is a key asset engaged in the generation of power using renewable energy sources. By divesting this project, Reliance Power aims to streamline its portfolio while contributing to the expansion of renewable energy initiatives.
JSW Renewable Energy, with aspirations to achieve a 20 GW capacity by FY 2030 and become carbon neutral by FY 2050, sees this transaction as a strategic step towards meeting its renewable-led growth targets. The acquisition aligns with JSW's long-term vision of strengthening its renewable energy portfolio and reducing carbon emissions.
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