Indian company CESC announced on Monday that its renewable energy platform, Purvah Green Power, will acquire an operational portfolio of solar capacity totaling 1.4 gigawatts from ReNew Solar Power for 48,590 crore Indian rupees (equivalent to $510.1 million).
The deal is expected to close by October 31. The parent company will provide the financing, which will accelerate the group's plans to establish a 10 GW renewable energy platform in the coming years.
The acquired portfolio includes six operational projects located in the states of Rajasthan and Karnataka. Over 90% of this portfolio's capacity is under long-term power purchase agreements with the state corporation Solar Energy Corp of India.
After the acquisition is completed, Purvah's renewable energy contracted capacity will increase to 4.8 GW. This figure includes 1.8 GW of operational capacity and 3 GW under construction.
CESC is the flagship energy company of the RP-Sanjiv Goenka Group and serves approximately 4.4 million consumers through its electricity distribution utilities. Purvah, established in 2023, focuses on developing and operating solar, wind, and hybrid renewable energy projects across India.



