CESC Ltd, through its subsidiary Purvah Green Power, has successfully acquired Bhadla Three SKP Green Ventures, enhancing its foothold in the renewable energy sector. The acquisition, valued at Rs 3.84 crore, gives Purvah Green Power full ownership of the company tasked with developing a 300-MW solar park in Phalodi district, Rajasthan.
This move is part of CESC’s broader strategy to expand its renewable energy capabilities. The company, a key part of the RP-Sanjiv Goenka Group, is targeting significant growth in this area, with plans to build a 3 GW hybrid renewable energy portfolio across Rajasthan and Gujarat. The group anticipates substantial investments to support its vision of generating up to 3 GW of renewable energy.
The Bhadla Three SKP Green Ventures acquisition is particularly notable as the company is currently developing the solar park, which has not yet begun generating revenue. Despite this, it has secured critical approvals for interstate solar power evacuation and has made progress in land acquisition, setting a strong foundation for future operations.
However, CESC has not disclosed the additional investment required to complete the solar park project, leaving some financial details unclear. This strategic acquisition aligns with the company’s commitment to enhancing its renewable energy offerings and its presence in the Indian power sector.
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