JSW Renewable Energy Coated Ltd acquires 45 MW Wind Project of Reliance Power

JSW Renewable Energy (Coated) Limited, a whollyowned subsidiary of JSW Neo Energy Limited (or "JSW Neo") and a step down subsidiary of JSW Energy Limited (or "the Company"), has agreed to acquire 45 MW of Renewable Energy generation capacity from Reliance Power Limited. The capacity consists of Wind power project located at Jath, Sangli District, Maharashtra. The transaction values the project at ₹132 crores adjusted for net working capital.

A Business Transfer Agreement has been signed between the parties and the transaction is subject to other customary approvals standard to a transaction of this size.

JSW Energy has total locked-in generation capacity of 12.5 GW comprising of 7.2 GW operational, 2.6 GW under-construction across wind, thermal and hydro and LoA/LoIs for 2.7 GW capacity from SECI (Solar Tranche XIII and Wind Tranche XVI), SJVN and GUVNL. In addition, the company has 3.4 GWh of locked-in energy storage capacity through battery energy storage system and hydro pumped storage project. The Company aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. JSW Energy has set an ambitious target of achieving Carbon Neutrality by 2050.

Shares of JSW Energy Limited was last trading in BSE at Rs. 515.25 as compared to the previous close of Rs. 504.55. The total number of shares traded during the day was 167354 in over 5850 trades.

The stock hit an intraday high of Rs. 517.40 and intraday low of 501.00. The net turnover during the day was Rs. 85376394.00.

Source : Equity Bulls

Keywords

JSWEnergy INE121E01018 JSWNeoEnergy JSWRenewableEnergyCoated Acquisition RenewableEnergy GenerationCapacity