Indian Metals & Ferro Alloys Limited (IMFA) signed a binding term sheet with JSW Green Energy One Ltd. (Solar) and JSW Green Energy Seven Ltd. (Wind) on December 17, 2024. The agreement secures a supply of 70 MW of hybrid renewable power, combining 50 MW AC solar capacity and 100 MW wind capacity, under a captive consumer arrangement.
The deal ensures IMFA access to approximately 70 MW of renewable power. The total investment for this acquisition is ₹83.26 crore, to be completed in one or more tranches. IMFA will acquire a 26% stake in both JSW Green Energy One Ltd. and JSW Green Energy Seven Ltd. The project is scheduled for completion by June 2026.
JSW Green Energy One Ltd. and JSW Green Energy Seven Ltd. were established on April 10, 2024, and June 21, 2024, respectively. These companies focus on building, developing, and managing electrical power generation projects utilizing both conventional and non-conventional energy sources. Their operations include generating, transmitting, distributing, and selling electricity across India. As newly formed entities, their financial year is incomplete, and size or turnover details are not yet available.
