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.
SSE and Brookfield Renewable partner for Dutch offshore wind bids
SSE Renewables and Brookfield Asset Management have joined forces to bid for the Hollandse Kust (west) offshore wind farm zone, which is currently under construction in the Netherlands. The Holl a n dse Kust (west) […]
Statkraft acquires Enerfin from Elecnor Group
Statkraft has concluded an agreement for the purchase of Enerfin, a Spanish renewable energy company. The transaction has an estimated enterprise value of €1.8 billion, including equity and debt, subject to customary adjustments at completion. […]