JSW Renewable Energy Limited entered into a business transfer agreement acquire 45 MW Vashpet Wind Project from Reliance Power Limited for INR 1.3 billion

JSW Renewable Energy (Coated) Limited entered into a business transfer agreement acquire 45 MW Vashpet Wind Project from Reliance Power Limited (NSEI:RPOWER) for INR 1.3 billion on March 22, 2024. The consideration consists of INR 1.3 billion in cash. As part of the consideration, INR 1.3 billion was paid towards assets.

The consideration is adjusted for the Net Working Capital as on the closing date. The transaction is subject to receipt of the necessary regulatory and other customary approvals and the major approvals of NOC from Maharashtra Energy Development Agency, existing lenders of Reliance Power Limited, and power offtaker. The transaction is expected to complete on May 21, 2024.