JSW Neo Energy Limited, a subsidiary of JSW Energy Limited, has completed the acquisition of Tidong Power Generation Private Limited. The transaction values the asset at approximately ₹1,728 crores. Tidong Power is constructing a 150 MW hydro-electric power plant expected to be commissioned in October 2026. This acquisition strengthens JSW Energy’s hydro portfolio.
Tidong Power Acquisition Completed
JSW Neo Energy Limited, a wholly-owned subsidiary of JSW Energy Limited, finalized the acquisition of Tidong Power Generation Private Limited from Statkraft IH Holding AS on January 29, 2026. The enterprise valuation for the acquisition is approximately ₹1,728 crores, excluding net current assets and other adjustments.
Project Overview: Tidong Power
Tidong Power is currently developing a 150 MW run-of-river hydro-electric power plant located in the Tidong Valley in Kinnaur district, Himachal Pradesh. The commissioning is projected for October 2026. A long-term Power Purchase Agreement (PPA) is in place with Uttar Pradesh Power Corporation Ltd for 75 MW of power during May to October at a tariff of ₹5.57/KWh. The remaining 75 MW capacity is currently untied and available for merchant sales.
Strategic Hydro Portfolio Addition
This acquisition marks JSW Energy’s fourth hydro asset in Himachal Pradesh, reinforcing its position as India’s largest private hydropower player. The project is in advanced stages and expected to enhance the Company’s EBITDA in FY27, supported by its remunerative tariff. The project’s proximity to the Karcham Wangtoo plant also allows for significant operational synergies.
JSW Energy’s Capacity Expansion
JSW Energy has a total locked-in generation capacity of 32.1 GW, including 13.3 GW operational and 14.2 GW under construction across thermal, hydro, and renewable sources, and a pipeline of 4.6 GW. The company aims to reach 30 GW generation capacity and 40 GWh of energy storage capacity by 2030 and achieve Carbon Neutrality by 2050.
Source: BSE
