JSW Energy Limited’s subsidiary, JSW Neo Energy Limited (JSWNEL), has agreed to acquire the entire shareholding of additional 12 special purpose vehicles (SPVs) of Mytrah Energy (India) Private Limited (MEIPL).
Earlier in August 2022, JSWNEL had agreed to acquire a portfolio of 1,753 MW of renewable energy generation capacity from MEIPL, comprising 17 SPVs and 1 ancillary SPV (transaction). Now, JSWNEL has agreed to acquire the entire shareholding of additional 12 MEIPL SPVs within the already agreed consideration approved by the board for the transaction. The cumulative consideration payable for these 12 SPV is Rs 18.2 million which will be part of the total consideration agreed to be paid for acquiring a portfolio of 1,753 MW of renewable energy generation capacity from MEIPL. The transaction is expected to be completed by April 30, 2023 subject to fulfilment of conditions precedent set out in the share purchase agreement.