JSW Energy Limited has completed the acquisition of Tidong Power Generation Private Limited, marking a strategic addition to its hydropower portfolio. The acquisition has been carried out through JSW Neo Energy Limited, a wholly owned subsidiary of JSW Energy.
The transaction values the asset at an enterprise value of approximately ₹1,728 crore, excluding net current assets and other adjustments under the share purchase agreement. Tidong Power was acquired from Statkraft IH Holding AS.
About the Tidong Hydropower Project
Tidong Power is currently developing a 150 MW run-of-river hydropower project located in the Tidong Valley of Kinnaur district, Himachal Pradesh. The project is expected to be commissioned by October 2026.
The power plant has secured a long-term Power Purchase Agreement (PPA) with Uttar Pradesh Power Corporation Ltd (UPPCL) for the supply of 75 MW of electricity during the months of May to October at a tariff of ₹5.57 per kWh.
The remaining 75 MW capacity is currently untied and will be available for sale in the merchant power market, providing JSW Energy with additional revenue flexibility.
Strengthening JSW Energy’s Hydro Portfolio
With this acquisition, Tidong Power becomes JSW Energy’s fourth hydropower asset in Himachal Pradesh, reinforcing the company’s position as India’s largest private hydropower producer.
The project is in advanced stages of completion and is expected to be value-accretive in the near term, supported by a remunerative tariff structure. Additionally, its proximity to the Karcham Wangtoo hydropower plant is expected to deliver operational synergies, further strengthening project economics.
Generation and Energy Storage Expansion
JSW Energy currently has a total locked-in generation capacity of 32.1 GW, comprising:
- 13.3 GW operational capacity
- 14.2 GW under construction across thermal, hydro, and renewable sources
- 4.6 GW in the development pipeline
On the energy storage front, the company has 29.6 GWh of locked-in storage capacity, including:
- 26.4 GWh from pumped storage projects
- 3.2 GWh from battery energy storage systems (BESS)
- Long-Term Clean Energy Vision
JSW Energy has set ambitious long-term targets to support India’s clean energy transition. The company aims to achieve:
- 30 GW of generation capacity by 2030
- 40 GWh of energy storage capacity by 2030
- Carbon neutrality by 2050
The acquisition of Tidong Power aligns with JSW Energy’s strategy of expanding its renewable and flexible generation portfolio while strengthening grid reliability through hydropower and energy storage assets.
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