CESC Limited, through its subsidiary Purvah Green Power Private Limited, is acquiring a 1.4 GWp operating solar portfolio from ReNew Solar Power Private Limited for an enterprise value of ₹4,859 crore. This strategic acquisition significantly expands CESC’s renewable energy capacity, boosting its operational renewable power capacity to over 1.8 GWp and its total contracted capacity to 4.8 GWp, accelerating its path to a 10 GW renewable energy platform.
CESC Expands Renewable Footprint with Major Acquisition
CESC Limited, a key player in India’s power sector, announced on August 10, 2026, that its renewable energy subsidiary, Purvah Green Power Private Limited, has entered into a Share Purchase Agreement (SPA) to acquire a 1.4 GWp operating solar portfolio from ReNew Solar Power Private Limited. The acquisition, valued at an enterprise value of ₹4,859 crore (USD 509 million), involves six special purpose vehicles holding solar power assets in Rajasthan and Karnataka.
Strategic Rationale and Impact
This significant transaction marks a strategic shift for CESC’s renewable energy platform, moving from projects under development to assets already generating contracted cash flows. The acquired solar projects have an established generation track record, with over 90% of the capacity contracted with the Solar Energy Corporation of India (SECI) under long-term power purchase agreements (PPAs). The acquisition is set to accelerate CESC’s goal of building a 10 GW renewable energy platform.
Enhanced Capacity and Financials
Following the completion of this acquisition, Purvah Green Power’s contracted capacity is expected to rise to 4.8 GWp. This includes approximately 1.8 GWp of operational capacity and 3 GWp tied-up for under-construction projects. Additionally, 2.2 GWh of battery capacity is also being implemented. The transaction includes a cash consideration of ₹1582 crore on closing, with an enterprise value of ₹4859 crore excluding contingent payments.
Target Companies and Integration
The acquisition encompasses 100% share capital of six target companies: ReNew Hans Urja Private Limited (810 MWp), ReNew Solar Photovoltaic Private Limited (506.25 MWp), ReNew Wind Energy (Karnataka 3) Private Limited (24.55 MWp), ReNew Wind Energy (MP Four) Private Limited (24.60 MWp), ReNew Wind Energy (Karnataka 4) Private Limited (22.90 MWp), and ReNew Agni Power Private Limited (23.18 MWp). These companies will become step-down subsidiaries of CESC Limited upon completion.
The deal is expected to be completed before October 31, 2026. No governmental or regulatory approvals are required for this acquisition, facilitating a smoother integration process.
Source: BSE
