CESC Limited Expands Renewable Energy Footprint with New Solar Project

CESC Limited has chosen its subsidiary, Purvah Green Power Private Limited, for a 300 MW solar PV project. Half of the 300 MW will be under tariff-based competitive bidding, while the rest will follow the greenshore option. The power purchase agreement is set to last for 25 years.

Power utility giant CESC Limited announced on Wednesday the selection of its subsidiary, Purvah Green Power Private Limited, to develop a 300 MW solar PV electricity project.

The company revealed that 150 MW of the project would be driven by tariff-based competitive bidding in India, with the remaining 150 MW under the greenshore option.

A regulatory filing stated that the power purchase agreement for this project will remain in effect for 25 years, beginning from the scheduled start of power supply.

Although the contract value remains undisclosed, the project represents a substantial move in CESC's renewable energy expansion plans.

In July 2024, CESC made Purvah Green Power its direct subsidiary by acquiring a 63.91% equity stake for Rs 205 crore, previously held under Crescent Power Limited.

CESC, a leading power utility firm involved in the generation, transmission, and distribution of electrical power, aims to enhance its green energy portfolio to reach 2GW soon through this investment.

(With inputs from agencies.)