Mumbai, India—January 29, 2026 — JSW Neo Energy Limited (“JSW Neo”), a wholly owned subsidiary of JSW Energy Limited (“the Company”), has completed the acquisition of Tidong Power Generation Private Limited (“Tidong Power”) from Statkraft IH Holding AS. The transaction values the asset at an Enterprise Valuation of ~`1728 crores, excluding net current assets and other adjustments under the share purchase agreement.
Tidong Power is constructing a 150 MW run-of-river hydro-electric power plant in Tidong Valley situated in Kinnaur district of Himachal Pradesh. The plant is expected to be commissioned in Oct-26 and has a long-term Power Purchase Agreement with Uttar Pradesh Power Corporation Ltd to procure 75 MW power during the months of May to October at a tariff of ₹5.57/KWh. The remaining capacity of 75 MW is currently untied and can be sold on merchant market.
Tidong Power will be the Company’s fourth hydro asset in Himachal Pradesh and a strategic addition to its hydro portfolio, further reinforcing its position as India’s largest private hydropower player. With the project in advanced stages of completion, it is expected to be valueaccretive in the near term and enhance the Company’s EBITDA in FY27, supported by its remunerative tariff. In addition, its proximity to the Karcham Wangtoo plant will enable significant operational synergies.
JSW Energy has total locked-in generation capacity of 32.1 GW comprising of 13.3 GW operational, 14.2 GW under-construction across thermal, hydro and renewable, and has a pipeline of 4.6 GW. The company also has 29.6 GWh of locked-in energy storage capacity through hydro pumped storage projects of 26.4 GWh and battery energy storage system of 3.2 GWh. The Company aims to reach 30 GW generation capacity and 40 GWh of energy storage capacity by 2030 and achieve Carbon Neutrality by 2050.
