EQT Infrastructure IV, a value-added fund managed by EQT, and Temasek have sold O2 Power to JSW Neo Energy, a subsidiary of JSW Energy, for $1.5 billion.
Established as a new company in 2020 by EQT and Temasek, O2 Power has evolved from a greenfield renewables start up, into one of India’s largest renewable-energy platforms. Headquartered in Gurgaon, India, O2 Power specializes in utility-scale projects across solar, wind and hybrid energy technologies. The company has secured a total capacity of 4.7 gigawatts since its inception, with 2.3 gigawatts expected to be operational by June 2025.
Under EQT and Temasek’s ownership, O2 Power successfully diversified into solar, wind, hybrid technologies and adjacent battery energy storage solutions. The company also expanded its presence serving both the public utility and commercial and industrial segments.
India’s renewable energy market remains one of the fastest-growing globally, driven by the government’s am
