Purvah Green Power to Acquire 1.4 GWp Solar Portfolio from ReNew Solar Power for ₹4,859 Crore

Hyderabad: The RP-Sanjiv Goenka Group (RPSG) announced that Purvah Green Power Private Limited, the renewable energy platform of CESC Limited, is acquiring a 1.4 GWp operating solar portfolio from ReNew Solar Power Private Limited. The deal is valued at an enterprise value of ₹4,859 crore ($509 million USD) and is being funded by the parent company.

The transaction represents one of the largest acquisitions of operational solar assets in India, shifting Purvah Green Power’s focus toward immediate operating scale and contracted cash flows.

Key Highlights & Portfolio Impact
Asset Details: The acquired operating solar assets are spread across six Special Purpose Vehicles (SPVs) located in Rajasthan and Karnataka.

Long-Term PPAs: Over 90% of the capacity is contracted under 25-year Power Purchase Agreements (PPAs) with the Solar Energy Corporation of India (SECI), while the remainder is contracted with distribution companies in Karnataka.

Capacity Expansion: Prior to this deal, Purvah’s contracted capacity stood at 3.4 GWp. The acquisition increases its total contracted capacity to 4.8 GWp (1.8 GWp operational and 3 GWp under construction), alongside 2.2 GWh of battery storage capacity under implementation.

Strategic Growth: The acquisition accelerates RPSG’s trajectory toward achieving its target of 10 GW in renewable energy capacity.

Leadership Commentary
Shashwat Goenka, Vice Chairman of RPSG, stated that the transaction significantly accelerates the group’s renewable energy platform by providing immediate operational scale. He added that the acquisition aligns with RPSG’s strategy of pairing disciplined greenfield development with selective value-accretive acquisitions, marking the group’s transition from a conventional power provider to a diversified energy platform.