Purvah Green Power to Acquire 1.4 GW Renewables Portfolio from ReNew

Purvah Green Power, a subsidiary of CESC and part of the RP-Sanjiv Goenka Group, has agreed to acquire six special purpose vehicles holding a combined 1,411 MW of operating renewable energy capacity from ReNew Solar Power.

Deal structure

The transaction is valued at roughly INR 48.6 billion (about $509 million), excluding a contingent payment tied to change-in-law claims. Purvah will acquire 100% of the share capital in six ReNew entities under a share purchase agreement signed August 10. The portfolio, spread across Rajasthan and Karnataka, is predominantly solar photovoltaic capacity, with a smaller share of wind assets included among the acquired entities.

Contracts and timeline

More than 90% of the acquired capacity is contracted under long-term power purchase agreements with the Solar Energy Corporation of India (SECI), with the remainder contracted to Karnataka distribution utilities. The deal is expected to close by October 31, 2026, after which Purvah's total contracted renewable capacity will rise to 4.8 GW.