Norway’s Statkraft has agreed to sell its 150-megawatt Tidong hydropower project in Himachal Pradesh, India, to JSW Energy, as part of a strategic shift to refocus its operations outside the Indian market.
The Tidong project, a run-of-river hydropower plant currently under construction, is expected to be commissioned in 2026. The transaction remains subject to regulatory approvals and other customary conditions.
Statkraft said the sale represents a key step in its broader plan to exit its Indian portfolio and reallocate capital toward projects in Europe and South America.
“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,” said Fernando de Lapuerta, executive vice president international at Statkraft.
JSW Energy said the acquisition strengthens its leadership in India’s private hydropower sector.
“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,” said Sharad Mahendra, joint managing director and chief executive of JSW Energy.
JSW Energy has been expanding its renewable energy portfolio as part of its long-term strategy to transition toward low-carbon power generation.
