JSW Energy Limited announced that its wholly-owned subsidiary, JSW Neo Energy Limited (JSWNEL), has successfully completed the acquisition of Tidong Power Generation Private Limited (Tidong Power) from Statkraft IH Holding AS. This acquisition, initially announced on September 18, 2025, marks Tidong Power as a step-down subsidiary of JSW Energy. The transaction values the asset at an Enterprise Valuation of approximately ₹1728 crore, excluding net current assets and other adjustments. Tidong Power is developing a 150 MW run-of-river hydroelectric power plant in Kinnaur district, Himachal Pradesh, with an expected commissioning in October 2026. The project has a long-term Power Purchase Agreement with Uttar Pradesh Power Corporation Ltd for 75 MW during May-October at ₹5.57/KWh, with the remaining 75 MW available for the merchant market. This acquisition adds JSW Energy's fourth hydro asset in Himachal Pradesh, reinforcing its position as India's largest private hydropower player. The company anticipates that Tidong Power will be value-accretive and enhance EBITDA in FY27 due to its remunerative tariff and operational synergies with the Karcham Wangtoo plant. JSW Energy's total locked-in generation capacity stands at 32.1 GW, with 13.3 GW operational and 14.2 GW under construction. The company aims for 30 GW generation capacity and 40 GWh of energy storage by 2030, targeting Carbon Neutrality by 2050.
