JSW Energy Limited has completed the acquisition of Tidong Power Generation Private Limited through its wholly owned subsidiary, JSW Neo Energy Limited, strengthening its hydropower portfolio and reinforcing its position as India’s largest private hydropower player. The acquisition from Statkraft IH Holding AS values the asset at an enterprise valuation of approximately ₹1,728 crore, excluding net current assets and other adjustments under the share purchase agreement.
Tidong Power is developing a 150 MW run-of-river hydroelectric power project in the Tidong Valley of Himachal Pradesh’s Kinnaur district. The project is expected to be commissioned in October 2026. It has a long-term power purchase agreement with Uttar Pradesh Power Corporation Ltd for the supply of 75 MW during the May–October period at a tariff of ₹5.57 per kWh, while the remaining 75 MW capacity is currently untied and available for sale in the merchant market.
This acquisition marks JSW Energy’s fourth hydropower asset in Himachal Pradesh and is expected to be value accretive in the near term, enhancing the company’s EBITDA from FY27 onwards. The advanced stage of project completion and the project’s proximity to the Karcham Wangtoo hydropower plant are expected to enable operational synergies and improve overall efficiency.
JSW Energy currently has a total locked-in generation capacity of 32.1 GW, comprising 13.3 GW of operational capacity, 14.2 GW under construction across thermal, hydro and renewable segments, and a development pipeline of 4.6 GW. The company also has 29.6 GWh of locked-in energy storage capacity, including 26.4 GWh from pumped storage projects and 3.2 GWh from battery energy storage systems. It aims to achieve 30 GW of generation capacity and 40 GWh of energy storage capacity by 2030, with a long-term goal of carbon neutrality by 2050.
JSW Energy Ltd, part of the USD 23 billion JSW Group, is one of India’s leading private-sector power producers with a diversified presence across power generation and transmission. Since commencing operations in 2000 with a 260 MW thermal power plant at Vijayanagar, Karnataka, the company has expanded its operational capacity to 13.3 GW and continues to build projects totalling 14.2 GW, supported by a strategy focused on robust operations, prudent capital allocation and sustainable growth.
