JSW Energy Takes Over 125 MW Renewable Assets From Hetero Group

Wedoany.com Report-Jan 13, JSW Neo Energy Limited, a wholly owned subsidiary of JSW Energy Limited, has completed its acquisition of 125 megawatts of renewable energy assets from Hetero Labs Limited and Hetero Drugs Limited housed under three special purpose vehicles.

In a statement, JSW Energy said the covered portfolio comprises wind projects in Andhra Pradesh and Maharashtra and have long term power purchase agreements. It has a blended tariff of INR 5.22 per kilowatt hour and average remaining plant life of around 15 years.

The total locked-in capacity of the company stands at 24.7 gigawatts which consists of different fuel mix and offtakers.

The transaction values the Hetero portfolio at an enterprise valuation of approximately INR 630 Crores, excluding net current assets and other adjustments under share purchase agreements.