JSW Neo Energy, a subsidiary of JSW Energy, has announced a definitive agreement to acquire a 4,696MW renewable energy platform from O2 Power Pooling, a joint venture between EQT Infrastructure and Temasek.

The shares of JSW Energy witnessed a sharp rally of almost 8% in early trading on Monday, December 30, following the company’s announcement of a major acquisition. JSW Energy, through its wholly-owned subsidiary JSW Neo Energy Limited (JSWNEL),

The entities to be acquired by JSW Energy have a consolidated operation and under development renewable energy portfolio of 4.7 GW in India.

Indian billionaire Sajjan Jindal-led JSW Energy said on Friday its JSW Neo Energy unit will acquire renewable energy platform O2 Power's subsidiaries in a deal worth $1.47 billion. The acquisition aligns with JSW Energy's target of achieving 20 GW renewable-led capacity before fiscal 2030 amid a strong government push for higher clean energy capacity.

The uptick in JSW Energy share price came after its arm, JSW Neo, signed a definitive agreement with O2 Power to acquire 4,696 MW of renewable energy (RE) platform for $1.47 billion

The JSW Energy stock reacted positively to the brokerage reports and opened over 4% in the green on Monday morning.

JSW Energy's acquisition of O2 Power expected to boost EBITDA, strengthen market position, and create shareholder value.

Shares of JSW Energy rose 7.7% as its subsidiary JSW Neo Energy signed a definitive agreement to acquire O2 Power's 4.7 GW renewable energy portfolio for Rs 12,468 crore. The acquisition is aimed at achieving JSW Energy's 20 GW renewable-led capacity growth target by FY 2030.

JSW Energy share price gained almost 8% on Monday in the morning trades as it announced plans to acquire 100% interest in O2 Power Midco Holdings, O2 Energy SG Pte. Limited and subsidiaries