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JSW Energy, one of India’s biggest power generating companies, has completed the actions to effectuate the reorganisation of its thermal power and renewable power business.
As a result, 100 percent of the equity shares held by JSW Future Energy in JSW Renew Energy (Kar) and JSW Renewable Energy (Dolvi) has been transferred to JSW Neo Energy (JSWNEL).
Transfer of 100 percent of the equity shares held by JSW Hydro Energy in JSW Energy (Kutehr) to JSWNEL has also been completed.
Finally, the transfer of 100 percent of the equity shares held by JSW Energy in JSW Hydro Energy to JSWNEL has been completed too.
Consequent to the aforesaid transfers, JSW Renew Energy (Kar), JSW Renewable Energy (Dolvi), JSW Energy (Kutehr) and JSW Hydro Energy have now become wholly owned subsidiaries of JSWNEL.
The scheme of amalgamation of JSW Future Energy with JSW Neo Energy has been filed with and is pending before the National Company Law Tribunal.
The reorganisation is in line with the announcement made by JSW Energy in July 2021. The move is aimed at building and streamlining the renewable portfolio and setting up a holding structure which is efficient for fund-raising and unlocking value for shareholders.
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