JSW Neo Energy acquires 12 SPVs of Mytrah Energy for Rs 1.82 cr

JSW Neo Energy acquires 12 SPVs of Mytrah Energy for Rs 1.82 cr

The cost of acquisition would be at Rs 1.82 crore, this includes the acquisition of 1,753 MW of Renewable Energy generation capacity from the company.

FPJ Web DeskUpdated: Tuesday, March 28, 2023, 05:06 PM IST
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JSW Neo Energy acquires 12 SPVs of Mytrah Energy for Rs 1.82 cr | Image: JSW Energy (Representative)

JSW Neo Energy Limited has agreed to acquire the entire shareholding of additional 12 Mytrah Energy India Private Limited SPVs within the already agreed consideration approved by the Board for the Transaction, the company announced through an exchange filing. The cost of acquisition would be at Rs 1.82 crore, this includes the acquisition of 1,753 MW of Renewable Energy generation capacity from the company.

The acquisition would help the company in achieving holistic completion of the transaction to have better exclusive holding rights to certain land parcels used by it. The transaction is expected to be completed by April 30 subject to fulfillment of conditions precedent set out in SPA.

The company's revenue from operations in financial year 2021-22 is at Rs 0.90 lakh.

JSW Energy shares

The shares of JSW Energy on Tuesday closed at Rs 222, down by 2.25 per cent.

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