RPSG’s Green Energy Arm to Acquire Renew Solar Power Portfolio for ₹4,859 Crore.

The RP-Sanjiv Goenka Group’s renewable-energy platform, Purvah Green Power, has entered into an agreement to acquire a 1.4 GWp operating solar portfolio from Renew Solar Power for an enterprise value of ₹4,859 crore.

The transaction involves the acquisition of 100% of the share capital of six companies — ReNew Hans Urja, ReNew Solar Photovoltaic, ReNew Wind Energy, ReNew Wind Energy (MP Four), ReNew Wind Energy (Karnataka 4), and ReNew Agni Power.

The acquisition was disclosed by CESC, the group’s parent company, in a stock-exchange filing on Monday.

Following the transaction, Purvah Green Power’s contracted renewable-energy capacity will rise to 4.8 GWp, while its battery-storage capacity will increase to 2.2 GWh.

The acquisition is expected to strengthen the group’s renewable-energy portfolio and accelerate its plans to reach 10 GW of renewable-energy capacity over the next few years.

A gigawatt peak (GWp) refers to the maximum power output that a solar installation can generate under standard conditions, while gigawatt-hour (GWh) is a unit of energy used to measure battery-storage capacity.