The RP-Sanjiv Goenka Group (RPSG) subsidiary, Purvah Green Power Private Ltd, the renewable energy platform of CESC Ltd, is set to acquire a 1.4 GWp operating solar portfolio from ReNew Solar Power Private Ltd for ₹4,859 crore.

In this regard, an agreement has been signed to acquire the portfolio comprising six special purpose vehicles (SPVs) located across Rajasthan and Karnataka.

The acquisition would be funded by the parent company. The deal is expected to be completed by October 2026, CESC Ltd said in a filing with exchanges.

The assets under the transaction are operating projects with more than 90% of the capacity contracted with the Solar Energy Corporation of India (SECI), under long-term power purchase agreements (PPAs). The balance is contracted with Karnataka distribution companies. All PPAs are over a 25-year tenure.

“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,” said Shashwat Goenka, Vice chairman, RPSG.

Purvah’s contracted capacity stood at approximately 3.4 GWp prior to the transaction. Once the deal is completed, total contracted capacity would rise to 4.8GWp, of which 1.8 GWp (operational) and 3 GWp (tied-up, at various stages of construction).

Additionally, 2.2 Gwh battery capacity is also tied-up and under implementation. The group has plans of building a 10 GW renewable energy platform in the next few years.