CORPORATE
CESC in deal to purchase six solar plants from Renew Energy
- IBJ Bureau
- Aug 11, 2026
CESC will be acquiring six operating solar power plants with a total capacity of of 1.4 gw-peak (gwp) spread across Rajasthan and Karnataka from Nasdaq-listed ReNew Energy at an enterprise value of Rs 4,859 crore.
The transaction, the largest acquisition yet by the Kolkata-based power company, is likely to close before October 31.
With this deal, the total renewable asset of Purvah Green Power, the renewable energy platform of CESC, will reach up to 4.8 gwp, including 1.8 gwp of operating renewable capacities.
The acquired assets operate projects with an established generation track record, the company has said.
It has further added that more than 90 per cent of the capacity of the six acquired projects is contracted with Solar Energy Corporation of India (SECI) under long-term power purchase agreements (PPAs).
The remaining capacity is sold to distribution companies in Karnataka, and all PPAs are over a 25-year tenure, CESC has added.
In FY25, the six operating assets of ReNew Solar Power had posted a cumulative turnover of Rs 253.5 crore.
ReNew, founded by Sumant Sinha, son of India’s former Finance and External Affairs Minister Yashwant Sinha, has said that the transactions are set to generate cash inflow of Rs 181 crore.
Shashwat Goenka, the vice-chairman of RPSG, which owns CESC, has said that the acquisition will accelerate Purvah’s journey to reach 10 gw of renewable power in the next few years.
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