JSW Energy Ltd. has been advised by Khaitan & Co. on its acquisition of O2 Power SG and its subsidiaries in India, which were jointly established by EQT Infrastructure and Temasek.
The total consideration for the acquisition amounts to USD 1.47 billion (₹12,468 crore). This transaction is one of the largest in the renewable energy sector and marks the largest acquisition for JSW Energy to date.
The acquisition includes the purchase of O2 Power Midco Holdings and O2 Energy SG. JSW Energy will acquire 4.7 gigawatts (GW) of renewable energy assets, which will increase its total generation capacity by 23%, from 20.02 GW to 24.71 GW.
JSW Energy’s wholly owned subsidiary, JSW Neo Energy, signed a definitive agreement for the deal on Friday, and the acquisition is subject to regulatory approvals, including clearance from the Competition Commission of India (CCI) and other customary approvals for transactions of this scale.
Khaitan & Co. Team: The core legal team advising JSW Energy on the acquisition included:
- Haigreve Khaitan
- Siddharth Shah
- Akhil Bhatnagar
- Purti Minawala
- Vivek Mimani
- Aman Anand
- Bhagirath Ashiya
- Palak Mohta
- Shefali Prasad
Support was provided by:
- Moin Ladha (Regulatory)
- Divya Chaturvedi (Due Diligence)
- Sudheer Madamaiah (Real Estate)
- Anisha Chand and Anshuman Sakle (Competition)
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