Purvah Green Power, a subsidiary of Calcutta Electric Supply Corporation (CESC), has signed a binding term sheet to acquire 100 per cent share of Bhojraj Renewables Energy. The acquisition is aimed at developing a 300 MW wind energy project and a 150 MW solar energy project. Structured as a cash deal, Purvah Green has committed up to Rs 1.08 billion, subject to achieving key project milestones. In exchange, Bhojraj Renewables will handle land acquisition and secure the required permits and approvals for both projects. The company has already obtained preliminary connectivity approval for the 300 MW wind project. The entire process, from acquisition to securing land and approvals, is expected to be completed within nine months. In September 2024, Purvah Green was awarded a project to develop a 300 MW solar photovoltaic project by CESC Limited. In July 2024, CESC Limited bought a 63.91 per cent equity stake in Purvah Green for Rs 2.05 billion to make it a direct subsidiary.
New Energy proposes sale of $244 million US solar portfolio
New Energy Solar, an Australian firm, has entered into a binding agreement with a subsidiary of MN8 Energy, formerly known as Goldman Sachs Renewable Power, to sell its US solar asset portfolio for A$352 million. […]
Inox Wind secures repeat order for 210 MW for its 3 MW WTGs
Inox Wind Limited (IWL) has secured an order for the supply of 210 MW of wind turbine generators (WTGs) from Hero Future Energies. The order is for IWL’s 3 MW WTGs and the scope comprises […]
PSEI acquires 50 per cent stake in EDF’s Desert Quartzite project
Power Sustainable Energy Infrastructure (PSEI) and EDF Renewables North America (EDF Renewables) have announced the initial phase of their strategic investment. PSEI has acquired a 50 per cent share in the Desert Quartzite Solar+Storage Project. […]