JSW Energy acquires O2 Power’s 4.7 GW renewable portfolio

India's JSW Energy, power company, has completed its largest acquisition worth INR 12,468 crore (~$1.44 billion), purchasing a 4.7 GW renewable energy platform from O2 Power,an energy provider. The deal, executed via JSW Neo Energy, added 4.7 GMW across solar, wind, hybrid, and RTC sources. It raised JSW Energy’s total capacity to 12.2 GW, with renewables forming over half of the portfolio. O2 Power, backed by EQT and Temasek, contributed 1.3 GW of operational assets and a pipeline of 2.25 GW expected to yield INR 1,500 crore (~$174.17 million) in Ebitda by June 2025. An additional INR 13,500 crore (~$1.56 billion) in capex is planned by June 2027, targeting INR 3,750 crore (~$435.44 million) in Ebitda. The platform included 4.1 W in utility-scale projects and 596 MW for C&I use. About 3,722 MW had PPAs with reliable offtakers, and 974 MW held letters of award or intent. JSW Neo Energy, which also selected Vikram Solar to supply 1 GW of solar modules, added 4.7 GW from O2 Power’s renewable platform to its portfolio.