Speciality chemicals manufacturer Chemplast Sanmar and its subsidiary Chemplast Cuddalore Vinyls (CCVL) will procure power from JSW Green Energy Nine’s 84.9 MW wind-solar captive power project in Tamil Nadu under a power purchase agreement.

Chemplast and its subsidiary will acquire a 26.27% stake in JSW Neo Energy for ₹304.3 million (~$3.4 million) in two tranches. The shareholding will comprise Chemplast’s 18.46% and CCVL’s 7.81% share of JSW’s stake at ₹213.8 million (~$2.4 million) and ₹90.5 million (~$103 million) respectively.

JSW Green Energy is a special purpose vehicle (SPV) of JSW Neo Energy (JSWNEL).

The captive project involves a 64.9 MW solar and a 20 MW wind project. Chemplast aims to source power from the project to meet 79% of its energy needs and reduce costs.

The company also has a 48.5 MW captive renewable energy project in Mettur, Tamil Nadu, powering four chemical plants, and cumulative 12 MW projects in Karaikal, Puducherry. The company’s power requirements for its employees’ residential colonies and township are also met through a captive power project.

At the Mettur plant, Chemplast has been using bio-briquettes in boilers along with coal since January 2023.

In December 2024, JSW Renew Energy Thirty-Two (an SPV of JSW Energy) signed an agreement to supply 68 MW of power from its wind-solar hybrid project in Kota, Rajasthan, to supply power to DCM Shriram.

In the same month, JSW Green Energy Eight, an SPV of JSW Energy, established a 130 MW solar project to supply power to a Haryana-based mobile tower installation company, Indus Towers.

In October 2024, JSWNEL decided to acquire three wind energy projects of Hetero Wind Power with a cumulative capacity of 125 MW for an enterprise value of ₹6.3 billion (~$74.93 million). The company executed definitive agreements with the Hetero Group to acquire its three wind power SPVs – Hetero Wind Power, Hetero Wind Power (Pennar), and Hetero Med Solutions.