JSW Group Signs Exclusivity Agreement to Acquire Mytrah Energy

Source: www.gulfoilandgas.com 5/20/2022, Location: Asia

JSW Group, an Indian conglomerate, has reportedly signed an exclusivity agreement to acquire renewable energy company Mytrah Energy India.

The deal, if executed, will give Mytrah Energy an enterprise valuation of up to $2bn, reported livemint, citing two sources having knowledge of the development.

Mytrah Energy has built more than 1.8GW of operational renewable energy assets, according to its website. The assets include 17 wind farms and 21 solar power plants in nine Indian states, that include Punjab, Rajasthan, Madhya Pradesh, Gujarat, Karnataka, Maharashtra, Andhra Pradesh, Telangana, and Tamil Nadu.

The Hyderabad-based firm mainly sells power to state grids under power purchase agreements ranging between 13 and 25 years. Barclays? Bank? is? said? to? have been roped in to manage? the? sale? of ? Mytrah Energy.

Last month, it was reported that JSW Group alongside Singapore-based Sembcorp Industries, and Enfinity Global were shortlisted to acquire the green energy company.

Mytrah Energy was established in 2009. The following year, it got a listing on London’s Alternative Investment Market (IAM) by raising equity of $80m.

In 2018, the company’s founder and chairman Ravi Kailas purchased shares from other shareholders via a special purpose vehicle called Raksha Energy to delist it.

JSW Group, through its subsidiary JSW Energy, presently produces 4.56GW of electricity. Of this, 3.16GW is thermal power, 1.4GW is hydropower, and 10MW is solar power.


Australia >>  6/23/2022 - It was announced that MMA Offshore Limited has entered into an agreement to acquire Subcon International Pty Ltd through the acquisition of 100% of Su...
Denmark >>  6/23/2022 - Noble Corporation (NE) ("Noble") and The Drilling Company of 1972 A/S (DRLCO), collectively with Noble, the "Parties," provided an update on the ongoi...

Norway >>  6/22/2022 - Lundin Energy AB would like to remind shareholders that 23 June 2022 is the ex-dividend date in relation to the transaction with Aker BP. Therefore, 2...
United States >>  6/22/2022 - Atkore Inc. has acquired United Poly Systems, a manufacturer of High Density Polyethylene (HDPE) pressure pipe and conduit, primarily serving telecom,...

Norway >>  6/21/2022 - Wilhelmsen is pleased to announce that they have entered into an agreement with Seven Seas to acquire 100 % of their shares in their subsidiary Stromm...
United Arab Emirates >>  6/21/2022 - A definitive agreement has been reached between the Abu Dhabi National Energy Company (TAQA), the Abu Dhabi National Oil Company (ADNOC), and Mubadala...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.