JSW-Backed O2 Power to Invest ₹43,000 Cr in Renewables Across Rajasthan & Bihar

O2 Power, which is being acquired by JSW Energy for ₹12,468 crore, will invest ₹43,000 crore in renewable projects across Rajasthan and Bihar. This includes ₹40,000 crore for solar, wind, and green hydrogen projects in Barmer (Sheo), Jaisalmer (Fatehgarh), Jalore, and Pali, along with ₹3,000 crore for solar projects in Bihar’s Darbhanga, Gaya, and Aurangabad. Additionally, it has signed an agreement for a ₹5,500-crore, 1,000 MW hybrid energy project in Madhya Pradesh. O2 Power has a 4,696 MW capacity target, with 2,259 MW operational by June 2025, 1,463 MW under development, and 974 MW in the pipeline, set for completion by June 2027. The projects are expected to create 200 direct jobs. Falling solar module and battery cell prices, driven by increased imports due to U.S. tariffs on China, have encouraged developers to accelerate capex. The acquisition is awaiting CCI approval, but O2 Power’s management will remain unchanged. Technically,

is currently trading at ₹473.85 on the daily timeframe, exhibiting a clear downtrend since its peak near ₹800. The stock remains below both the 70-day EMA (red) and the 100-day EMA (blue), confirming a bearish outlook. The 9-day EMA (green) is also trending downward, indicating weak momentum and lack of buying strength. The key resistance levels to watch are ₹519 and ₹581, while immediate support levels are at ₹408, ₹353, and further down at ₹258. On the 1-hour chart, the stock is showing early signs of a potential short-term recovery, hovering around ₹474.30, with the 9-day EMA attempting to cross above the 70-day EMA, suggesting a possible bullish reversal if sustained. However, for a trend shift, JSW Energy must break above ₹519 with strong volume. Until then, the larger trend remains bearish, and failure to hold ₹408 could trigger further downside. I have attached the daily chart for your reference. Follow me for more such updates, Thank You!