Purvah Green Power is set to acquire a 1.4 GWp operating solar portfolio from Renew Solar Power for INR 4,859 crore, accelerating RPSG’s renewable energy expansion and operating scale.
August 10, 2026. By News Bureau
The RP-Sanjiv Goenka Group (RPSG) has announced that Purvah Green Power, the renewable energy platform of CESC, is set to acquire a 1.4 GWp operating solar portfolio from Renew Solar Power, held across six project special purpose vehicles in Rajasthan and Karnataka, at an enterprise value of INR 4859 crore (USD 509 million at INR 95.5/USD). The acquisition has been funded by the parent company. 
The transaction is among the largest acquisitions of operating solar assets in the Indian market and marks a decisive shift in the composition of Purvah's portfolio – from a platform built primarily on projects under development to one anchored by assets already generating contracted cash flows. 
The acquired assets are operating projects with an established generation track record. More than 90 percent of the capacity is contracted with the Solar Energy Corporation of India (SECI) under long-term power purchase agreements, with the balance contracted with Karnataka distribution companies. All PPAs are over a 25-year tenure.
Commenting on the transaction, Shashwat Goenka, Vice Chairman, RPSG, said, “This acquisition marks a significant acceleration of our renewable energy journey. It gives us immediate operating scale, complements our strong pipeline of contracted capacity and meaningfully brings forward the growth of the platform. We have always believed our renewable growth should combine disciplined greenfield development with selective acquisitions where they accelerate value creation and the quality and long-term visibility of these assets made this a compelling opportunity. For a Group with a long heritage in the power sector, this marks our move from a conventional power player to a diversified energy platform, and an important step towards building RPSG into one of India's leading renewable energy platforms.”
Purvah's contracted capacity stood at approximately 3.4 GWp prior to the transaction. Following completion, total contracted capacity rises to 4.8GWp, of which 1.8 GWp is operational and 3 GWp is tied-up, at various stages of construction. Additionally, 2.2 GWh battery capacity is also tied-up and under implementation. The acquisition substantially increases the proportion of the portfolio that is already generating revenue and strengthening recurring cash flows well ahead of the commissioning schedule for the under-construction pipeline. 
The acquisition also materially accelerates progress towards the group's immediate stated ambition of building a 10 GW renewable energy platform in the next few years.

Ashish Kauleshnam, Tata Elxsi on How AI, Digital Engineering, Advancing Sustainable Mobility

Continuous Innovation is Fundamental to RenewSys’ Growth Strategy: Avinash Hiranandani

Tie ALMM Implementation to Domestic Capacity, Not Calendar Deadlines: Sanjeev Aggarwal

Renewables Will Become the Backbone of India’s Grid, Says Wärtsilä’s Archana Bhatnagar

NoPo' Gadhadar Reddy Explains India's Deep-Tech Opportunity in Single-Walled Carbon Nanotubes

source