Pioneer Legal advised JSW Renew Energy Thirty-Two Limited and JSW Neo Energy Limited on their Power Purchase Agreement and Share Subscription and Shareholders’ Agreement with DCM Shriram Limited for a 68 MW AC solar and 68 MW wind hybrid power project aimed at supplying renewable energy to DCM Shriram’s facilities.

DCM Shriram is set to invest ₹57.12 crore as part of their investment in the project.

Pioneer Legal served as the lead counsel for JSW Renew and JSW Neo and assisted the company is reviewing, revising and finalising the power purchase agreement.

The transaction team consisted of Narendra Dingankar (Partner), Dhruval Sheth (Senior Associate), Shreya Gokhale (Senior Associate), and Dhruv Jain (Associate).

DCM Shriram was advised by their in-house legal team.

Scheduled for completion by March 2026, the project is expected to replace 40 MW of coal-based thermal power at DCM Shriram’s Kota manufacturing facility. As part of the transaction, DCM Shriram will acquire a 26% equity stake in the special purpose vehicle (SPV) set up by JSW Energy to implement the project.

This deal aligns with DCM Shriram’s broader sustainability strategy, which already includes renewable energy procurement from ReNew Power. For JSW Energy, the agreement is part of its growing commercial and industrial renewable energy portfolio and supports its long-term goal of reaching 20 GW of generation capacity and 40 GWh of storage by 2030, in pursuit of carbon neutrality by 2050.

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