JSW Neo Energy Limited, a wholly-owned subsidiary of JSW Energy Limited, has finalised the acquisition of Tidong Power Generation Private Limited from Statkraft IH Holding AS. The enterprise valuation is approximately Rs 17.28 billion. This valuation excludes net current assets and other adjustments under the share purchase agreement.
Tidong Power is developing a 150 MW run-of-river hydroelectric project in the Tidong Valley of Himachal Pradesh’s Kinnaur district. The project is scheduled to be commissioned in October 2026 and has a long-term power purchase agreement (PPA) with Uttar Pradesh Power Corporation Limited. Under the PPA, the project will supply 75 MW during May to October period at a tariff of Rs 5.57 per kWh. The remaining 75 MW capacity remains untied and will be available for sale on the merchant market.
Earlier in November 2025, JSW Energy Limited commissioned a green hydrogen manufacturing plant located adjacent to the JSW Steel facility in Karnataka.
