JSW Neo Energy Limited, a wholly owned subsidiary of JSW Energy, has announced that it is in the final stages of completing its acquisition of O2 Power Midco Holdings Pte. Ltd. and O2 Energy SG Pte. Ltd., along with their subsidiaries. The development comes after the fulfillment of all conditions precedent, including securing approval from the Competition Commission of India (CCI).

This acquisition was first announced on December 27, 2024, when JSW Neo Energy entered into Definitive Agreements to acquire O2 Power, one of India’s leading renewable energy platforms. With the latest regulatory approvals and contractual conditions met, the acquisition has now become unconditional, and the parties are proceeding with the final steps to complete the transaction.

Strategic Importance of the Acquisition

The acquisition of O2 Power is a significant milestone in JSW Energy’s expansion strategy, strengthening its renewable energy portfolio. O2 Power, backed by global investors, has a robust portfolio of solar and wind energy projects, contributing to India’s clean energy transition. By integrating O2 Power’s assets, JSW Neo Energy is set to expand its footprint in the green energy sector and accelerate its goal of achieving 20 GW of generation capacity by 2030.

Next Steps in the Transaction

With all regulatory and contractual requirements satisfied, JSW Neo Energy will now take the necessary steps to finalize the acquisition and integrate O2 Power’s assets into its existing operations. This move is expected to enhance JSW’s position in the fast-growing renewable energy market, providing a strong foundation for sustained growth and long-term value creation.

The company will provide further updates as the transaction reaches its final completion stage.

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