JSW Energy completes re-organisation of Renewable and Thermal Business
JSW Energy completes re-organisation of Renewable and Thermal Business
JSW Energy has said that it completed the re-organisation of its Green (Renewable) Business and Grey (Thermal) Business.
The company in a regulatory filing informed that to effectuate the re-organisation certain steps have been completed:
Transfer of 100% of the 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% of the equity shares held by JSW Hydro Energy Limited in JSW Energy (Kutehr) Limited to JSWNEL.
Transfer of 100% of the equity shares held by the Company in JSW Hydro Energy Limited to JSWNEL.
Consequent to the aforesaid transfers, 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.
On November 25, 2021, the board of the company had approved the streamlining of the renewable portfolio and the setting up of a holding structure to unlock and enhance the shareholders' value.