JSW Energy Acquires Tidong Power, Strengthens Hydro Power Portfolio
JSW Neo Energy Ltd. (JSWNEL), a subsidiary of JSW Energy Ltd., has acquired 100% equity stake in Tidong Power Generation Pvt. Ltd. from a Norwegian company, Statkraft IH Holding AS. This acquisition has made Tidong Power a subsidiary of JSWNEL and a step-down subsidiary of JSW Energy.
Enterprise valuation of Tidong Power is approximately Rs. 1,728 crore. Currently, Tidong Power is engaged in the construction of a 150 MW run-of-river hydro-electric power plant in Tidong valley located in Kinnaur, Himachal Pradesh. This plant is expected to be commissioned in October 2026.
Tidong Power had already signed long term power purchase agreement with Uttar Pradesh Power Corporation Limited for procurement of 75 MW power from May to October at a tariff of Rs. 5.57 per kWh once the plant commences operations. As for the remaining 75 MW, it is not tied to any agreement yet and will be available to be sold in market.
Consequently, having acquired a complete equity stake in Tidong Power, on completion of this plant, JSW Energy will have its fourth hydro asset in Himachal Pradesh. Additionally, this plant’s proximity to Karcham Wangtoo Plant—a run-of-river hydro-electric power plant— on Sutlej River will increase operational efficiencies.
