The transaction entails acquisition of O2 Power Midco Holdings and O2 Energy SG and is subject to approval of the Competition Commission of India (CCI) and other customary approvals standard to a transaction of this size, the company said.
O2 Power is a renewable energy platform with a capacity of 4.7 GW where 2.26 GW will be operational by June 2025, 1.46 GW is currently under construction, and an additional 974 MW are in the pipeline, all scheduled for commissioning by June 2027.
"The platform has a blended average tariff of ₹3.37/KWh with remaining life of ~23 years. The capacities are spread across seven resource-rich states of India," the company said.
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