JSW Neo Energy, a subsidiary of JSW Energy, has completed the acquisition of Virya Infrapower Pvt. Ltd. for INR 7.54 crore. This strategic move allows JSW Neo Energy to gain access to a ready renewable power site, accelerating its expansion in the green energy sector.
A Step Towards Renewable Growth
JSW Energy confirmed the acquisition through a regulatory filing, stating that JSW Neo Energy has purchased 100% of Virya Infrapower’s shares. With this, Virya Infrapower has now become a step-down subsidiary of JSW Energy.
The acquisition aligns with JSW Energy’s long-term vision of increasing its renewable energy capacity. The newly acquired site comes with the necessary infrastructure, making it easier for JSW Neo Energy to develop and execute renewable power projects at a faster pace.
JSW Energy’s Recent Acquisitions and Expansion Plans
JSW Energy has been actively expanding its energy portfolio. Earlier this month, the company acquired KSK Mahanadi Power Company Ltd. for INR 16,084 crore, adding 1,800 MW of operational thermal power to its portfolio. This acquisition pushed JSW Energy’s total power generation capacity beyond 10 GW.
In January 2025, JSW Neo Energy acquired 125 MW of wind power assets from Hetero Group for INR 630 crore. Additionally, in December 2024, it signed a deal to purchase 02 Power’s renewable energy platform, which has a massive 4,696 MW capacity, for INR 12,468 crore.
JSW Energy’s Ambitious Targets
JSW Energy is on a mission to achieve 20 GW of power generation capacity and 40 GWh of energy storage well before 2030. The company is transitioning towards a more sustainable energy mix, with a strong focus on renewable sources like solar, wind, and hydroelectric power.
Current Power Portfolio
- Thermal Power: 3,508 MW capacity across locations in Ratnagiri, Barmer, Vijayanagar, Utkal, and Nandyal.
- Renewable Power: 4,232 MW, including 2,166 MW wind, 1,391 MW hydro, and 675 MW solar.
- Other Energy Assets: The company operates a lignite mining JV in Rajasthan and has a transmission partnership in Maharashtra.
Future Energy Projects
- Under Construction: 2,536 MW wind, 2,779 MW solar, 2,026 MW hybrid, 350 MW thermal, and 240 MW hydro.
- Pipeline Projects: 560 MW solar, 250 MW wind, and 2,730 MW hybrid energy.
- Green Hydrogen Initiative: The company’s first green hydrogen plant is set to start operations by March 2025, supplying 3.8 KTPA to JSW Steel.
- Battery Storage Projects: A 1 GWh battery storage project for SECI, along with a 12 GWh pumped hydro storage project in Maharashtra, is under development.
Strong Financial Backing
JSW Energy is strengthening its financial position to support its growth. In April 2024, the company raised INR 5,000 crore through a Qualified Institutional Placement (QIP). With stable long-term power purchase agreements covering 85% of its capacity, JSW Energy ensures revenue stability while reducing market risks.
Conclusion
The acquisition of Virya Infrapower is another step in JSW Neo Energy’s aggressive expansion in the renewable energy space. With a series of recent acquisitions and ongoing projects, JSW Energy is well-positioned to become a leader in India’s clean energy transition. The company’s focus on sustainability and innovation will play a crucial role in meeting the country’s growing energy demands while reducing carbon emissions.