By Martin Shwenk Leade
Copyright indiatimes
TIL CreativesRepresentative Image
New Delhi: JSW Neo Energy has acquired Statkraft’s hydro power unit in Himachal Pradesh for an enterprise value of ₹1,727 crore, according to a stock exchange disclosure on Thursday.ET had first reported in its Wednesday edition that JSW Neo Energy had emerged the frontrunner to acquire the unit outbidding KKR-backed Serentica Renewables and Torrent Power. The unit is developing a 150 MW hydro power project along the Tidong tributary of Sutlej River in Himachal Pradesh.Statkraft is said to have already incurred majority of the project capital expenditure of around ₹2,000 crore in Tidong Hydro Power. The physical attributes of the project include an 8 km-long head race tunnel built through mountainous terrain that will convey water to the power station, a 110 meter high surge shaft, a 1,200 meter long pressure shaft and a surface power house.Norway government-owned Statkraft is exiting India and has put all its assets on the block.Live EventsSerentica acquired the solar power generation business of Statkraft for an enterprise value of $220-250 million earlier this week, outbidding Blackstone. Its solar assets are located in Rajasthan.ET had first reported about the deal in its September 15 edition.JSW Neo is an arm of JSW Energy, which houses the renewable energy generation business of the Sajjan Jindal-led JSW group. It has been augmenting its energy generation capacity through acquisitions and organically.It recently completed the acquisition of O2 power from Temasek and EQT for an enterprise value of ₹12,468 crore. That acquisition added 4.7 gigawatts of capacity. It had also acquired the 1.75 gigawatts Mytrah Energy for an enterprise value of ₹10,530 crore in 2023.Add as a Reliable and Trusted News Source Add Now!
(You can now subscribe to our Economic Times WhatsApp channel)
Read More News onJSW Neo EnergyStatkraft Hydro Power UnitacquisitionHimachal PradeshStatkraftrenewable energyKKRSerentica RenewablesTorrent Power
(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless
(You can now subscribe to our Economic Times WhatsApp channel)Read More News onJSW Neo EnergyStatkraft Hydro Power UnitacquisitionHimachal PradeshStatkraftrenewable energyKKRSerentica RenewablesTorrent Power(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless
