Indian billionaire Sajjan Jindal-led JSW Energy said on Friday its JSW Neo Energy unit will acquire renewable energy platform O2 Power's subsidiaries in a deal worth $1.47 billion. The acquisition aligns with JSW Energy's target of achieving 20 GW renewable-led capacity before fiscal 2030 amid a strong government push for higher clean energy capacity.

The acquisition would help the company in achieving its renewable-led capacity growth target of 20 gigawatt (GW) before fiscal 2030, the company said in its statement.

JSW Neo Energy, a wholly owned subsidiary of JSW Energy, on Friday signed a definitive agreement to acquire 4.7 gigawatt (GW)from O2 Power for a total enterprise value of Rs 12,468 crore.

India’s renewable energy sector is advancing rapidly, with a major development involving JSW Energy acquiring O2 Power, a leading renewable energy company. JSW Limited finalized this deal for approximately ₹12,

JSW Energy will acquire the green energy business of O2 Power for Rs 12,468 crore in an all-cash deal, enhancing its portfolio with 4.7 GW of renewable projects. The acquisition coincides with JSW's mission to achieve 20 GW generation capacity by 2030 and is expected to complete by May 26.

SW Energy on Friday said its arm JSW Neo Energy Ltd (JSW Neo) will acquire 4,696 MW renewable energy platform for an enterprise value of Rs 12,468 crore from O2 Power Pooling Pte Ltd (O2 Power). The transaction entails the acquisition of O2 Power Midco Holdings Pte Ltd and O2 Energy SG Pte Ltd and is subject to approval of the Competition