Statkraft has agreed to sell the 150MW Tidong hydropower project in Himachal Pradesh, India, to JSW Energy.
The run-of-river plant is under construction and expected to be commissioned in 2026. Completion of the transaction remains subject to conditions precedent and regulatory approvals.
Statkraft executive vice president international Fernando de Lapuerta said: “We are confident that [JSW] will continue to develop and operate the Tidong hydropower plant with competence and commitment, contributing to India’s green energy transition.”
JSW Energy joint managing director and chief executive Sharad Mahendra said: “This acquisition further strengthens our position as the largest private hydro power player in India and reinforces our commitment to support India’s power sector.”
Statkraft said the deal marks a major milestone in its plan to divest its India portfolio to refocus investments on Europe and South America.