JSW Energy Arm to Buy Statkraft's 150 MW Hydro Power Plant for ₹1,728 Crore; Share Price Su

On 18th September 2025, JSW Energy Limited announced that its wholly-owned subsidiary, JSW Neo Energy Limited (JSWNEL), has entered into a definitive agreement with Statkraft IH Holding AS to acquire 100% equity shares of Tidong Power Generation Private Limited (TPGPL). 

TPGPL is currently developing a 150 MW hydro power project in Himachal Pradesh. The transaction, valued at an enterprise value of ₹1,728 crores, remains subject to regulatory and customary approvals. Upon completion, TPGPL will become a subsidiary of JSWNEL and a step-down subsidiary of JSW Energy.

Details of the Acquisition

The Tidong hydro-electric project is a 150 MW run-of-river plant located in Kinnaur district, Himachal Pradesh, with expected commissioning in October 2026. The project has a 22-year Power Purchase Agreement (PPA) with Uttar Pradesh Power Corporation Ltd for 75 MW of power supply during May to October at a tariff of ₹5.57/kWh, while the remaining 75 MW is currently untied and can be sold on the merchant market.

This acquisition supports JSW Energy’s broader strategy of achieving 30 GW generation capacity and 40 GWh storage capacity by FY 2030, with renewables contributing 70% of the portfolio. The acquisition will enhance the company’s hydro capacity to 1.8 GW, including 1.6 GW of operational assets.

Statements from Leadership

As per the exchange filings, Mr Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, said: “We are elated to announce the acquisition of the Tidong hydro plant, our fourth hydro asset and a significant addition to our hydro portfolio in Himachal Pradesh. This acquisition further strengthens our position as the largest private hydro power player in India and reinforces our commitment to support India’s power sector.”

Mr Fernando de Lapuerta, Executive Vice President International at Statkraft, added: “We are pleased with this transaction. JSW Energy is one of India’s largest independent power producers with experience in hydropower development and operations. We are confident that they will continue to develop and operate the Tidong hydropower plant with competence and commitment, contributing to India’s green energy transition.”

Read More: JSW Energy Signs 230 MW FDRE Power Purchase Agreement with SECI!

JSW Energy Share Performance 

As of September 19, 2025, at 10:10 AM, JSW Energy share price is trading at ₹544.80 per share, reflecting a surge of 1.30% from the previous day's closing price. 

Conclusion

The acquisition of Tidong Power Generation Private Limited represents a strategic step for JSW Energy in scaling its renewable energy portfolio and strengthening its hydro power presence in Himachal Pradesh. 

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