Purvah Green to acquire Bhojraj Renewables
Purvah Green Power, a subsidiary of Calcutta Electric Supply Corporation (CESC), has signed a binding term sheet to acquire 100% of Bhojraj Renewables Energy. The acquisition, valued at up to Rs 1.08 billion, will support the development of a 300 MW wind energy project and a 150 MW solar energy project. Bhojraj Renewables will handle land acquisition and secure permits and approvals, with the entire process expected to be completed within nine months.
Purvah Green has already received preliminary connectivity approval for the 300 MW wind project. In addition, the company was awarded a 300 MW solar photovoltaic project by CESC in September 2024. Earlier, in July 2024, CESC acquired a 63.91% equity stake in Purvah Green for Rs 2.05 billion, making it a direct subsidiary.