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JSW Neo Energy Acquires Virya Infrapower for Rs7.54 crore

JSW Neo Energy, a subsidiary of JSW Energy, has acquired a 100% stake in Virya Infrapower for Rs7.54 crore in an all-cash transaction. The deal was finalized on March 12, 2025, the same day the share purchase agreement (SPA) was signed, making Virya Infrapower a step-down subsidiary of JSW Energy. This acquisition grants JSW Neo access to a ready power site with essential infrastructure, expediting renewable energy project development. The transaction requires no regulatory approvals and does not involve any related party interests. Virya Infrapower, established in December 2014, has not recorded any revenue in the last three financial years.

JSW Energy has secured Rs1,200 crore. This move aligns with the company’s broader strategy to finance its renewable energy expansion and infrastructure projects.

JSW Energy’s Q3 Financial Performance Declines

For Q3 FY2025, JSW Energy reported a net profit of Rs168 crore in the same period last year. The decrease is attributed to lower revenues from thermal and hydropower projects. Additionally, the company's earnings before interest, taxes, depreciation, and amortization (EBITDA) fell by 9% to Rs1,115 crore, reflecting financial pressures amid changing energy market dynamics.