Archive · 11 Aug 2026
CESC acquires ReNew's 1.4 GW solar assets for ₹4,859 crore
A company called CESC makes electricity.
It decided to buy solar power plants from another company called ReNew.
Solar power plants use sunlight to make electricity.
The plants are in the Indian states of Rajasthan and Karnataka.
CESC will pay about ₹4,859 crore for them - crore is a word used in India for ten million, so that is a very large amount of money.
This is the biggest purchase CESC has ever made.
The solar plants already make electricity, so CESC can use them right away.
Most of the electricity they make has already been promised to be sold to a government company called SECI for the next 25 years.
This purchase helps CESC's clean energy business, Purvah, grow bigger.
CESC wants to have 10 GW of renewable power in the next few years.
CESC Ltd will acquire 1.4 GWp of operating solar capacity in Rajasthan and Karnataka from Nasdaq-listed ReNew Energy at an enterprise value of ₹4,859 crore.
The deal is CESC's largest buyout yet and is set to close before October 31.
More than 90% of the acquired capacity is contracted with Solar Energy Corporation of India under 25-year power purchase agreements, with the balance contracted with Karnataka distribution companies.
After the deal, Purvah Green Power's total renewable assets will reach up to 4.8 GWp, including 1.8 GWp of operating renewable capacity, supporting a target of 10 GW.
The cash component at closing is ₹1,582 crore, comprising ₹589 crore for share capital and ₹993 crore of unsecured promoter debt, while ReNew will generate ₹181 crore in cash inflow.
- Who
- CESC Ltd, the Calcutta-based power major, is the buyer; Nasdaq-listed ReNew Energy, founded by Sumant Sinha, is the seller. Purvah Green Power is CESC's renewable energy platform.
- What
- Acquisition of 1.4 GWp of operating solar power capacities at an enterprise value of ₹4,859 crore.
- When
- The deal was recently announced and is set to close before October 31.
- Where
- Rajasthan and Karnataka, India.
- Why
- To accelerate Purvah's journey toward 10 GW of renewable power through selective acquisitions alongside disciplined greenfield development.
- Enterprise value
- ₹4,859 crore
- Acquired capacity
- 1.4 GWp operating solar
- Location
- Rajasthan and Karnataka
- Expected closing
- Before October 31
- Cash component at closing
- ₹1,582 crore (₹589 crore share capital + ₹993 crore promoter debt)
- PPA tenure
- 25 years
- Purvah renewable assets after deal
- Up to 4.8 GWp, including 1.8 GWp operating
- Acquired assets' FY25 turnover
- ₹253.5 crore (six assets under ReNew Solar Power Private Ltd)