JSW Energy announced on Saturday that it will buy 3 special purpose vehicles of Hetero Gropu. All these three SPVs are related to wind energy. According to the company, its wholly-owned subsidiary JSW Neo Energy has signed an agreement on 18 October 2024 to buy these SPVs. Under this agreement, 3 special purpose vehicles with a total capacity of 125 MW will be acquired from Hetero labs and Hetero drugs. After the deal is completed, this SPV will become a step-down subsidiary of the company. The company said that this deal is yet to get many other approvals. The stock closed flat at 677 in Friday's trade.



What information did the company give? In the information sent to the stock market, the company said that its wholly-owned subsidiary JSW Neo Energy Limited has signed an agreement to buy 3 SPVs Hetero Wind Power, Hetero Wind Power (Pennar) Pvt Ltd and Hetro Med Solutions. The total capacity of these three SPVs is 125 MW and the total income in the financial year 2023-24 was Rs 143.5 crore. This transaction will be in cash and its enterprise value is Rs 630 crore. As per the agreement, 100 percent stake will be purchased in Hetero Wind Power (Pennar) Pvt Ltd and Hetro Med Solutions. At the same time, 74 percent stake will be purchased in Hetero Wind Power and the remaining 26 percent stake will remain with the captive consumer. Renewable energy projects are located in Andhra Pradesh and Maharashtra and all the projects have long-term power purchase agreements. According to the company, this deal is yet to get many other approvals including the approvals of the lenders.