JSW Energy JSW Energy Ltd completes reorganisation of thermal and renewable business
Mumbai: JSW Energy Limited has completed the reorganisation of its company’s green (renewable) business and grey (thermal) business, the company said in regulatory filing.
To effectuate the reorganisation, the following steps have been taken:
Transfer of 100 percent equity shares held by JSW Future Energy Limited in (i) JSW Renew Energy (Kar) Limited and (ii) JSW Renewable Energy (Dolvi) Limited, to JSW Neo Energy Limited (JSWNEL).
Transfer of 100 percent equity shares held by JSW Hydro Energy Limited in JSW Energy (Kutehr) Limited to JSWNEL.
Transfer of 100 percent equity shares held by the company in JSW Hydro Energy Limited to JSWNEL.
As a result, JSW Renew Energy (Kar) Limited, JSW Renewable Energy (Dolvi) Limited, JSW Energy (Kutehr) Limited, and JSW Hydro Energy, Limited have now become wholly-owned subsidiaries of JSWNEL. The Scheme of Amalgamation of JSW Future Energy Limited with JSW Neo Energy Limited has been filed with and is pending before the NCLT.
According to the filing on March 16, on November 25, 2021, the board of the Sajjan Jindal-led company had approved the streamlining of the renewable portfolio and the setting up of a holding structure to unlock and enhance the shareholders’ value.
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