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.

JSW Energy said the latest acquisition will increase the company's locked-in generation capacity to 24,708 MW, from the current 20,012 MW

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.

Sajjan Jindal-promoted JSW Energy on Friday announced an all-cash deal to acquire the green energy business of O2 Power, backed by Swedish private equity firm EQT and Singapore’s state investment arm Temasek,

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.

JSW Energy’s wholly-owned subsidiary JSW Neo Energy on Friday signed an agreement to acquire a 4,696-megawatt (MW) renewable energy portfolio from O2 Power Pooling, a platform jointly established by EQT Infrastructure and Temasek.

JSW Neo Energy will acquire 4,696 MW renewable energy platform from O2 Power for Rs 12,468 crore. The deal is subject to CCI approval and other customary approvals.