For Rs 132 crore, JSW Energy purchases Reliance Power’s wind assets

Mumbai: For Rs 132 crore, the billionaire Sajjan Jindal-owned JSW Energy will purchase Reliance Power’s wind energy asset in Maharashtra.

Vashpet is home to the 45 MW wind power facility, which has an agreement with Adani Electricity for electricity offtake. Repayment of debts will be made using the proceeds from the asset’s sale. The DBS bank was the mortgagee of the asset.
Reliance Power notified stock markets on Thursday that the asset is unencumbered after the resolution of its debt with the Singaporean bank.

For Rs 10,531 crore last year, JSW Energy purchased a number of solar and wind energy assets from Ravi Kailas of Mytrah Energy.
The biggest transaction in JSW Energy’s history enabled it to increase its capacity for producing electricity by more than 36%.
In FY23, the Vashpet wind energy plant brought in Rs 29 crore. It’s anticipated that the deal will be completed by the following month. JSW Renewable Energy (Coated), a step-down entity of the Rs 10,332-crore JSW Energy, is the one handling the Vashpet transaction.