M&A

M&A

CESC unit Purvah Green acquires 1.4 GW portfolio from ReNew Solar for $510-M

BSE Announcement   Business Line  

New Delhi-based Purvah Green Power , a renewable energy platform owned by publicly-listed CESC, has acquired a 1.4-gigawatt operational solar portfolio from ReNew Solar Power for a total consideration of INR 4,859 crore (USD 510.1 million).The portfolio consists of six operating projects located in Rajasthan and Karnataka. More than 90% of the acquired capacity is contracted under long-term power purchase agreements with the Solar Energy Corp of India.Purvah Green Power develops and operates solar, wind, and hybrid renewable energy projects across India. The firm plans to use the new assets to support the group's broader strategy to establish a 10-gigawatt renewable energy platform.