JSW Neo Energy Acquires 150 MW Tidong Hydro Plant from Statkraft, Cementing Private Hydro Leadership
JSW Neo Energy’s acquisition of the Tidong Hydro Plant solidifies its lead in private hydro capacity, supporting India’s round-the-clock green power goals and Himalayan renewable integration.
JSW Neo Energy, the clean energy subsidiary of JSW Energy, has signed a deal to acquire the under-construction 150 MW Tidong Hydro Power Plant in Himachal Pradesh from Norway’s Statkraft for ₹1,728 crore. The move will strengthen JSW’s position as India’s largest private hydropower producer, advancing its strategy of integrated renewables expansion in the Himalayas.
Expansion in the Himalayas and Market Impact
Once operational in October 2026, Tidong — together with JSW’s ongoing Kutehr hydro project — will raise its installed hydro capacity to 1.8 GW and push its overall secured power portfolio beyond 30 GW.
The project includes a 22-year power purchase agreement (PPA) with Uttar Pradesh Power Corporation for 75 MW at a premium summer tariff, while surplus output can be sold in merchant markets — allowing JSW to capture rising peak demand and higher pricing for firm renewable power.
Supporting India’s 24×7 Green Ambitions
Hydropower plays a crucial role in balancing wind and solar intermittency, providing round-the-clock availability essential for India’s clean energy expansion. By scaling in the hydro segment, JSW Neo Energy is contributing to both national energy security and the green transition, while showcasing the ability of private capital to accelerate mountain projects that often face delays.
The acquisition also marks a turning point in Statkraft’s strategic repositioning and highlights the growing vibrancy of India’s hydropower M&A ecosystem.
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