JSW Energy on Friday said its wholly owned subsidiary, JSW Neo Energy has completed the acquisition of 125 MW of renewable energy assets from Hetero Group for an enterprise value of about Rs 630 crore.
The 125 MW portfolio comprises wind projects located in Andhra Pradesh and Maharashtra and has long-term power purchase agreements, it added.JSW Neo Energy (JSW Neo), a wholly-owned subsidiary of JSW Energy, has completed the acquisition of 125 MW of renewable energy assets from Hetero Labs and Hetero Drugs housed under three special purpose vehicles (SPVs), stated in regulatory filing.
The portfolio has a blended tariff of Rs 5.22/KWh and an average remaining plant life of 15 years.
JSW Energy is primarily engaged in the business of generation of power, with principal places located at Vijayanagar (Karnataka), Ratnagiri (Maharashtra), Nandyal (Andhra Pradesh), and Salboni (West Bengal).
The companys consolidated net profit marginally increased to Rs 853.25 crore in Q2 FY25 as against Rs 850.16 crore posted in Q2 FY24. Net sales marginally declined to Rs 3,237.66 crore in Q2 FY25 from Rs 3,259.42 crore reported in Q2 FY24.
Shares of JSW Energy slipped 1.59% to Rs 530.75 on the BSE.
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