CESC Shares in Focus; Arm Purvah Green to Acquire 1.4 GWp Solar Portfolio for ₹4,859 Crore from ReNew Solar Power

Purvah Green Power Private Limited (PGPPL), a subsidiary of CESC, has entered into an agreement to acquire 100% share capital of six companies from ReNew Solar Power Private Limited, as per an exchange August 10, 2026.  

The deal covers 1,411.48 MW of installed renewable capacity, or about 1.4 GWp. No government or regulatory approval is required. The acquisition is expected to close before 31 October 2026. 

The assets are located in Rajasthan and Karnataka. ReNew Hans Urja holds 810 MW and ReNew Solar Photovoltaic has 506.25 MW. Four wind companies make up the remaining 95.23 MW. The six companies will become step-down subsidiaries of CESC after completion.  

Power Purchase Agreements 

More than 90% of the acquired capacity is tied to the Solar Energy Corporation of India (SECI) through long-term power purchase agreements. The remaining capacity is contracted with Karnataka distribution companies. The agreements have tenures of more than 25 years.  

The portfolio consists of operating projects. ReNew Hans Urja reported turnover of ₹132.8 crore in FY25, compared with ₹0.1 crore in FY24. ReNew Solar Photovoltaic, which commenced operations in March 2025, reported FY25 turnover of ₹41.5 crore.  

Deal Structure 

The transaction has an enterprise value of ₹4,859 crore, excluding a contingent payment estimated at ₹230 crore. The additional amount will be payable only if there is further realisation from a change-in-law claim.  

Cash consideration at closing will be ₹1,582 crore, including ₹94 crore of net current assets. This includes ₹589 crore towards share capital and ₹993 crore of unsecured promoter debt to repay existing promoter debt.  

Impact on Purvah 

After completion, Purvah's operational capacity is expected to exceed 1.8 GWp, while contracted and tied-up capacity will cross 3 GWp. Total capacity will stand at around 4.8 GWp, alongside 2.2 GWh of battery capacity under implementation.  

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CESC Share Price Performance 

As of August 10, 2026, 2:52 pm, CESC share price was trading at ₹164.71, a 0.47% increase from the previous closing price. 

Conclusion  

Purvah Green will acquire the six ReNew entities for an enterprise value of ₹4,859 crore. The transaction is expected to be completed before October 31, 2026. 

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