Latest news with #O2Power
Bloomberg
4 days ago
- Business
- Bloomberg
JSW Neo Energy Seeks $675 Million Loan for O2 Power Deal
India's JSW Neo Energy Ltd. is seeking a loan of about $675 million to back its purchase of renewable energy platform O2 Power from Sweden's EQT AB and Singapore's Temasek Holdings, according to people familiar with the matter. Deutsche Bank AG and Mitsubishi UFJ Financial Group are the mandated lead arrangers and bookrunners of the five-year deal, said the people, who asked not to be identified discussing private matters. The loan is being syndicated to the broader market, they added, with investor meetings taking place in Dubai, Singapore and Taipei this week.
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Business Standard
20-05-2025
- Business
- Business Standard
JSW Energy to invest ₹14k cr to expand RE capacity of O2 Power
JSW Energy is planning to invest approximately ₹14,000 crore to scale up the renewable energy capacity of its newly acquired entity, O2 Power, to 4.7 gigawatts (GW) by 2027, senior company executives said. In addition, the firm aims to allocate up to ₹18,000 crore in FY26 to complete existing projects and support new growth initiatives. The company's subsidiary, JSW Neo Energy Ltd, has acquired O2 Power's 4,696 MW renewable energy portfolio from O2 Power Pooling Pte Ltd for an enterprise value of ₹12,468 crore. Of the total, 2,259 MW will be operational by June 2025, 1,463 MW is under construction, and 974 MW is in the pipeline, the company said. At present, O2 Power's installed capacity stands at 1.3 GW. JSW Energy plans to increase this to 4.7 GW by June 2027, backed by a capital outlay of ₹13,000–14,000 crore, Joint Managing Director Sharad Mahendra said during an analyst call. For FY25, the capital expenditure stood at about ₹8,000 crore—lower than the guidance of ₹15,000 crore. 'Because of certain delays in some of the ongoing projects and because we were accelerating the inorganic growth pipeline, we calibrated it down,' the CFO said. JSW Energy is currently building 11.3 GW of generation capacity, all secured under long-term Power Purchase Agreements (PPAs), Mahendra added. This includes 9.7 GW of renewable energy and a 1.6 GW ultra-supercritical thermal power project at Salboni, marking the company's return to greenfield thermal investments after more than a decade. 'Beyond this, we have a robust project pipeline of approximately 4.9 GW, where Letters of Intent or Letters of Award have been secured and PPAs are yet to be signed,' Mahendra said.
Time of India
20-05-2025
- Business
- Time of India
JSW Energy to invest ₹14,000 cr to expand renewable energy capacity of Oxygen Power
JSW Energy would invest around ₹14,000 crore to expand renewable energy capacity of recently acquired O2 Power to 4.7 gigawatt (GW) by 2027, and in FY26 it looks to spend up to ₹18,000 crore to complete ongoing projects, senior company officials said. Its arm JSW Neo Energy Ltd (JSW Neo) has acquired 4,696 MW renewable energy platform of O2 Power Pooling Pte Ltd (O2 Power) for an enterprise value of ₹12,468 crore. Of the total, 2,259 MW will be operational by June 2025, while 1,463 MW is under construction, and an additional 974 MW are in the pipeline, the company had said. The current installed capacity of O2 Power is 1.3 GW and JSW Energy expects to increase it to 4.7 GW by June 2027 by undertaking capital expenditure of ₹13,000-14,000 crore, JSW Energy Joint MD Sharad Mahendra said in an analyst call. On the capex plan for FY26, Pritesh Vinay, company's Director (Finance) and CFO said the company is expecting to spend ₹15,000-18,000 crore to complete the ongoing projects plus the pipeline of new growth projects that have started. For FY25, it was about ₹8,000 crore as against guidance of ₹15,000 capex. "Because of certain delays in some of the ongoing projects and because we were accelerating the inorganic growth pipeline, we calibrated it down," the CFO said. Joint MD Mahendra said JSW Energy is constructing 11.3 GW of generation projects, all of which are fully tied up under long-term Power Purchase Agreements . The under-construction portfolio includes 9.7 GW of renewable energy projects and 1.6 GW Salboni ultra-supercritical thermal power project which marks the company's investment in greenfield thermal after more than a decade, he said. "Beyond this we have a robust project pipeline of approximately 4.9 GW of projects where Letters of Intent or Letters of Award have been secured and PPAs are yet to be signed." On KSK Mahanadi , he said currently 1,800 MW is operational which is 95 per cent tied up under PPAs and has fuel supply agreements. "We are currently integrating operations with JSW Energy and implementing comprehensive plan to bring cost efficiencies," he added. JSW Energy had acquired the 3,600 MW thermal asset through NCLT proceedings for a total resolution amount of ₹16,084 crore.
Time of India
20-05-2025
- Business
- Time of India
JSW Energy to invest Rs 14,000 cr to expand renewable energy capacity of Oxygen Power
JSW Energy would invest around Rs 14,000 crore to expand renewable energy capacity of recently acquired O2 Power to 4.7 gigawatt (GW) by 2027, and in FY26 it looks to spend up to Rs 18,000 crore to complete ongoing projects, senior company officials said. Its arm JSW Neo Energy Ltd (JSW Neo) has acquired 4,696 MW renewable energy platform of O2 Power Pooling Pte Ltd (O2 Power) for an enterprise value of Rs 12,468 crore. Of the total, 2,259 MW will be operational by June 2025, while 1,463 MW is under construction, and an additional 974 MW are in the pipeline, the company had said. The current installed capacity of O2 Power is 1.3 GW and JSW Energy expects to increase it to 4.7 GW by June 2027 by undertaking capital expenditure of Rs 13,000-14,000 crore, JSW Energy Joint MD Sharad Mahendra said in an analyst call. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Gạch cao su mới cho tường – Hãy thử xem! Gạch | Quảng cáo tìm kiếm Tìm Ngay On the capex plan for FY26, Pritesh Vinay, company's Director (Finance) and CFO said the company is expecting to spend Rs 15,000-18,000 crore to complete the ongoing projects plus the pipeline of new growth projects that have started. For FY25, it was about Rs 8,000 crore as against guidance of Rs 15,000 capex. Live Events "Because of certain delays in some of the ongoing projects and because we were accelerating the inorganic growth pipeline, we calibrated it down," the CFO said. Joint MD Mahendra said JSW Energy is constructing 11.3 GW of generation projects, all of which are fully tied up under long-term Power Purchase Agreements . The under-construction portfolio includes 9.7 GW of renewable energy projects and 1.6 GW Salboni ultra-supercritical thermal power project which marks the company's investment in greenfield thermal after more than a decade, he said. "Beyond this we have a robust project pipeline of approximately 4.9 GW of projects where Letters of Intent or Letters of Award have been secured and PPAs are yet to be signed." On KSK Mahanadi , he said currently 1,800 MW is operational which is 95 per cent tied up under PPAs and has fuel supply agreements. "We are currently integrating operations with JSW Energy and implementing comprehensive plan to bring cost efficiencies," he added. JSW Energy had acquired the 3,600 MW thermal asset through NCLT proceedings for a total resolution amount of Rs 16,084 crore.
Arabian Post
29-04-2025
- Business
- Arabian Post
JSW Neo Energy Expands with 4.7 GW Renewable Acquisition
JSW Neo Energy has successfully completed the acquisition of a 4.7 GW renewable energy platform from O2 Power, marking a significant leap in its energy portfolio. This acquisition brings the total capacity of JSW Neo Energy to 12.2 GW, positioning it closer to its ambitious target of reaching 20 GW by 2030. The deal is part of the company's strategic push to solidify its presence in India's rapidly growing renewable energy sector. With the energy landscape in India transitioning towards a more sustainable future, JSW Neo Energy's expansion aligns with the government's vision of achieving 500 GW of non-fossil fuel-based power capacity by 2030. The platform acquired from O2 Power, which includes both operational and under-construction projects, covers a diverse mix of solar and wind energy. These assets are expected to provide significant long-term revenue streams and diversify JSW Neo Energy's renewable portfolio. This move comes as part of JSW Energy's broader strategy to accelerate its green energy initiatives. In line with this, the company aims to focus on scaling up its renewable capacity while phasing out fossil fuel-based assets. The acquisition enhances JSW Neo Energy's position as one of India's key players in the renewable energy market, alongside other major industry players such as ReNew Power, Adani Green, and NTPC. The renewable energy sector, which has seen robust growth due to favorable policy frameworks and increasing investment, is becoming an attractive space for both established energy companies and new entrants. O2 Power, a prominent renewable energy developer in India, made the decision to divest a part of its portfolio as part of its strategy to streamline operations and focus on other business ventures. The deal reflects a broader trend in India's renewable energy sector, where companies are consolidating and scaling operations to meet the increasing demand for clean energy. This transaction also underscores the competitive landscape in the sector, with firms vying for a larger share of the renewable energy pie. See also Trump's 26% Tariff Escalates US-India Trade Tensions For JSW Neo Energy, this acquisition not only expands its operational footprint but also accelerates its progress towards meeting India's energy transition goals. The company has been actively involved in both the solar and wind energy segments and plans to continue investing in projects that enhance its renewable energy capacity. In recent years, JSW Neo Energy has been building its portfolio through a series of acquisitions and partnerships, including deals with leading international investors and developers. The renewable energy sector in India has witnessed increased investments, supported by policy initiatives such as the National Wind-Solar Hybrid Policy and the Renewable Energy Purchase Obligation , which mandate that utilities must procure a certain percentage of power from renewable sources. These policies have created a conducive environment for energy companies like JSW Neo Energy to expand and scale their operations. The push towards renewable energy also reflects a growing awareness of the need to address climate change and reduce reliance on fossil fuels. India has committed to achieving net-zero emissions by 2070, with an interim target of achieving 50% of its energy needs from non-fossil fuel sources by 2030. This aligns with JSW Neo Energy's commitment to sustainable growth and its long-term vision of becoming a leader in the green energy space. Experts in the industry believe that the consolidation of renewable energy assets through acquisitions, such as the one completed by JSW Neo Energy, is crucial for driving economies of scale. By consolidating assets, companies can reduce operational costs, increase efficiency, and improve their financial viability. Additionally, large-scale renewable projects allow companies to attract capital more easily, which is essential for financing the growth of the sector. See also India Navigates Trade Turmoil as Global Markets Reel
