JSW Energy buys Reliance Power’s wind assets for Rs 132 crore

Mar22,2024



Mumbai: controlled by billionaire Sajjan Jindal JSW Energy will buy Reliance PowerWind energy assets worth Rs 132 crore in Maharashtra.
The 45-MW wind power asset is located in Washpet and has an agreement with Adani Electricity for offtake of power. The money received from the sale of the property will be used to repay the loan. The property was mortgaged with DBS Bank.
On Thursday, Reliance Power informed the stock exchanges that the assets are free from encumbrances after settling borrowing obligations with the Bank of Singapore. Last year, JSW Energy acquired several solar and wind power assets from Mytrah Energy's Ravi Kailas for Rs 10,531 crore.
The deal, the largest in JSW Energy's history, helped it jump more than 36% in its power generation capacity.
The income of Washpet wind power unit in FY 2023 was Rs 29 crore. The transaction is expected to be completed by next month. Washpet has been acquired through JSW Renewable Energy (quoted), a subsidiary of JSW Energy, for Rs 10,332 crore.



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