JSW Energy Shares Rally Ahead In The Stock Market, Find Out Why

This climb in the firm’s stock followed the announcement that its wholly-owned subsidiary JSW Neo Energy (JSWNEL) signed definitive agreements with the O2 Power group

The company’s shares surged 7.7 per cent on the BSE to hit an intraday high of Rs 673.05 apiece

Source : JSW Energy

JSW Energy shares made a strong rally on Monday. The company’s shares surged 7.7 per cent on the BSE to hit an intraday high of Rs 673.05 apiece. On the NSE, the firm’stock climbed to an intraday high of Rs 674 per share.

This climb in the firm’s stock followed the announcement that its wholly-owned subsidiary JSW Neo Energy (JSWNEL) signed definitive agreements with the O2 Power group.

Around 11:52 AM, the firm’s shares pared the gains, however, maintained their rally and touched Rs 649.25 apiece, logging a jump of 3.87 per cent. The agreement will be inked between JSWNEL, O2 Power Pooling and O2 Power SG to acquire O2 Power Midco Holdings and O2 Energy SG along with their respective subsidiaries for Rs 12,468 crore, reported The Economic Times.

The target subsidiaries will have a combined operational and under construction/development renewable energy portfolio of 4.7 GW. In an official filing, the company said, “JSW Neo Energy Limited (“JSW Neo”), a wholly owned subsidiary of JSW Energy Limited (“The Company”), has signed a definitive agreement to acquire a 4,696 MW renewable energy (“RE”) platform from O2 Power Pooling Pte. Ltd. (“O2 Power”), a platform jointly established by EQT Infrastructure & Temasek. The transaction entails acquisition of O2 Power Midco Holdings Pte. Ltd. and O2 Energy SG Pte. Ltd and is subject to approval of the Competition Commission of India (CCI) and other customary approvals standard to a transaction of this size.”

This deal will help JSW Energy reach its renewable-led capacity growth target of 20 GW before the 2029-2030 fiscal year (FY30). The acquisition is projected to be finalised by May 26, 2025, the firm informed.