Now Reading: Purvah Green to buy 1.4 GWp solar portfolio from ReNew for Rs 4,859 crore
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Purvah Green to buy 1.4 GWp solar portfolio from ReNew for Rs 4,859 crore
Purvah Green to buy 1.4 GWp solar portfolio from ReNew for Rs 4,859 crore
Purvah Green Power, the renewable energy arm of RPSG Group’s CESC Ltd, will acquire a 1.4 GWp operating solar portfolio from ReNew Solar Power for an enterprise value of Rs 4,859 crore.…
The Story in Brief
Purvah Green Power, the renewable energy arm of RPSG Group’s CESC Ltd, will acquire a 1.4 GWp operating solar portfolio from ReNew Solar Power for an enterprise value of Rs 4,859 crore. The deal covers six solar projects in Rajasthan and Karnataka, with over 90% capacity contracted to SECI under 25-year power purchase agreements.
The cash consideration is Rs 1,582 crore, funded through internal accruals and minimal debt, CESC said in an exchange filing. Purvah’s contracted capacity will rise to 4.8 GWp after the acquisition, which is expected to close by October 2026. RPSG vice chairman Shashwat Goenka said the group plans to build a 10 GW renewable energy platform, requiring an investment of around Rs 65,000 crore.
The Indian Opinion
The Rs 65,000 crore investment plan for 10 GW capacity is ambitious. Stories around this deal are painting it as an overnight leap into big green energy, but the truth is more prudently built. Purvah already had 3.4 GWp contracted capacity, and these 1.4 GWp are operating plants with assured PPAs, not speculative bets. The real test is whether the group can execute its next 10 GW target while managing the debt needed to fund it.
Sources (2): thehindu.com, timesofindia.indiatimes.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
