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JSW Energy on Thursday said it has completed the acquisition of Tidong Power Generation Private Limited from Statkraft IH Holding AS at an enterprise valuation of around ₹1,728 crore, strengthening its hydroelectric portfolio with the addition of a 150 MW run-of-river project in Himachal Pradesh.
The acquisition was carried out through JSW Neo Energy Limited, a wholly owned subsidiary of the company, following receipt of all regulatory approvals.
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 at an advanced stage of construction and is expected to be commissioned in October 2026.
The project has a long-term power purchase agreement with Uttar Pradesh Power Corporation Limited for 75 MW during the May–October period at a tariff of ₹5.57 per unit, while the remaining 75 MW capacity is currently untied and can be sold in the merchant power market.
With this acquisition, Tidong Power becomes JSW Energy’s fourth hydro asset in Himachal Pradesh, reinforcing its position as India’s largest private-sector hydropower player, the company said.
The company said the project is expected to be value-accretive in the near term and contribute to EBITDA from FY27, supported by its remunerative tariff structure and operational synergies with the nearby Karcham Wangtoo hydro plant.
JSW Energy currently has a total locked-in generation capacity of 32.1 GW, including 13.3 GW of operational capacity, 14.2 GW under construction, and a pipeline of 4.6 GW. It also has locked-in energy storage capacity of 29.6 GWh across pumped storage and battery energy storage systems, with a stated target of achieving 30 GW of generation capacity and 40 GWh of storage by 2030.
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