JSW Neo Energy Limited, a wholly owned subsidiary of JSW Energy Limited, has signed a definitive agreement to acquire 100 per cent stake in Tidong Power Generation Private Limited from Statkraft IH Holding AS for Rs 17.28 billion.
The 150 MW run-of-river hydro project is under construction in the Tidong Valley of Kinnaur district, Himachal Pradesh. A 22-year power purchase agreement is in place with Uttar Pradesh Power Corporation Limited for 75 MW of the capacity, with supply scheduled from May to October at a tariff of Rs 5.57 per kWh. The remaining 75 MW is untied and will be available for merchant sale. The project is expected to be commissioned by October 2026.