Purvah Green Set to Acquire Bhojraj Renewables

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.