JSW Energy, through its wholly owned subsidiary JSW Neo Energy Limited, has signed a definitive agreement to acquire 100% stake in Tidong Power Generation Private Limited from Statkraft IH Holding AS. The deal, valued at an enterprise valuation of around ₹1,728 crore, is subject to regulatory and customary approvals.
Tidong Power is in the process of constructing a 150 MW run-of-river hydro-electric project in the Tidong Valley of Kinnaur district, Himachal Pradesh. The hydro plant is expected to be commissioned by October 2026.
Once operational, the project will supply 75 MW of power to Uttar Pradesh Power Corporation Ltd (UPPCL) under a long-term 22-year Power Purchase Agreement (PPA) for the peak months of May to October, at a tariff of ₹5.57 per unit. The balance 75 MW capacity remains untied, giving JSW Energy flexibility to sell power on the merchant market, potentially capturing higher realisations.
With this acquisition, JSW Energy’s locked-in generation capacity rises to 30.5 GW, strengthening its position as one of India’s leading clean energy players. The move aligns with the company’s strategy to expand its renewable and hydro-electric portfolio while ensuring long-term revenue visibility through PPAs.