Overview

• JSW Neo Energy signed a definitive agreement to acquire 100% of Tidong Power Generation Private Ltd from Statkraft at an enterprise value of about Rs 1,728 crore.
• The transaction requires change-of-control clearance from the Government of Himachal Pradesh and lender consents, with customary closing adjustments.
• Tidong is a 150 MW run-of-river plant under construction in Kinnaur district, with commissioning expected in October 2026.
• The project has a 22-year PPA with Uttar Pradesh Power Corporation Ltd for 75 MW during May–October at Rs 5.57 per kWh, with the remaining 75 MW untied for merchant sales.
• JSW says the deal strengthens its hydro portfolio and construction capabilities, while Statkraft frames it as a milestone in its planned India divestment to refocus on Europe and South America.