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JSW Energy’s arm inks pact to acquire 100% shares in Tidong Power
Sep-19-2025

JSW Energy’s wholly owned subsidiary -- JSW Neo Energy has signed a definitive agreement to acquire 100% shares in Tidong Power Generation (Tidong Power) from Statkraft IH Holding AS (Statkraft). The acquisition would help the company in achieving its renewable-led capacity growth target of 30 GW by FY 2030. The acquisition is expected to be completed on or before January 15, 2026, subject to fulfilment of the conditions under the definitive agreements. The transaction values the asset at an Enterprise Valuation of around Rs 1,728 crore, subject to closing adjustments agreed under the share purchase agreement.

Tidong Power is constructing a 150 MW run-of-river hydro-electric power plant in Tidong Valley situated in Kinnaur district of Himachal Pradesh. The plant is expected to be commissioned in October-26 and has around 22-year Power Purchase Agreement remaining with Uttar Pradesh Power Corporation to procure 75 MW power during the months of May to October at a tariff of Rs 5.57/KWh. The remaining capacity of 75 MW is currently untied and can be sold on merchant market. After this transaction, the company’s locked-in generation capacity stands at 30.5 GW with hydro capacity of 1.8 GW hydro power, including current operational hydro capacity of 1.6 GW.

JSW Energy, part of the JSW Group, is a growing energy company. The Group has diversified interests in carbon steel, power, mining, industrial gases, port facilities, aluminium, cement and information technology.

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