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.


Bermuda >>  7/1/2022 - Golar LNG Limited ("Golar") announces that it has sold to Cool Company Ltd. (“CoolCo”) the management organization responsible for the technical and c...
Norway >>  7/1/2022 - TGS ASA has acquired Prediktor AS ("Prediktor"), a leading provider of asset management and real-time data management solutions to renewable and energ...

Norway >>  7/1/2022 - TGS ASA has been named a successful bidder in the auction process conducted in connection with ION Geophysical Corporation’s (ION) Chapter 11 bankrupt...
Scotland >>  7/1/2022 - KNOT Offshore Partners LP announced that its wholly owned subsidiary, KNOT Shuttle Tankers AS, has acquired KNOT Shuttle Tankers 35 AS, the company th...

United Arab Emirates >>  7/1/2022 - Transmar International Shipping Company ("Transmar") and Transcargo International S.A.E. ("TCI"), two Egyptian-based shipping companies, are 100% owne...
United States >>  7/1/2022 - Chord Energy Corporation announced the successful completion of the combination of Whiting Petroleum Corporation ("Whiting") and Oasis Petroleum Inc. ...




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