M&A

M&A

CESC arm buys solar park in Rajasthan for Rs.3.8 Cr

Economic Times  

Purvah Green Power, a subsidiary of publicly listed Kolkata-headquartered CESC Ltd, has acquired 100% stake in Jaipur-headquartered Bhadla Three SKP Green Ventures for INR 3.84 crore.The acquired company is developing a solar park with a capacity of 300 MW in Phalodi district of Rajasthan. The company has not generated any revenue yet.CESC Ltd, RP-Sanjiv Goenka group's flagship company, had earlier expressed its intention to acquire over 50,000 acres in Rajasthan and Gujarat to build its 3 GW hybrid renewable energy portfolio.