Purvah Green Power Private Limited, a wholly-owned subsidiary of CESC Limited, has successfully acquired six Special Purpose Vehicles (SPVs) from ReNew Solar Power Private Limited. This acquisition, formalized through a Share Purchase Agreement, marks a significant expansion in Purvah Green Power’s renewable energy portfolio.
The acquired SPVs include ReNew Hans Urja Private Limited, ReNew Solar Photovoltaic Private Limited, ReNew Wind Energy (Karnataka 3) Private Limited, ReNew Wind Energy (MP Four) Private Limited, ReNew Wind Energy (Karnataka 4) Private Limited, and ReNew Agni Power Private Limited. Collectively, these entities manage power projects with a total capacity of 1,411.48 MWDC, spread across Rajasthan and Karnataka.
Khaitan & Co, a leading law firm, played a pivotal advisory role in this transaction for Purvah Green Power. The team was led by Partner Prashant Sirohi, with Principal Associate Anuj Singh Chauhan, Senior Associate Pooja Ravikrishnan, and Associates Divisha Dwivedi and Abhishek Choudhary contributing to the effort. Executive Director Sudhir Bassi offered guidance on capital markets matters, while Partner Raghav Bajaj provided tax-related support.
This strategic acquisition is set to significantly boost Purvah Green Power’s operational capacity, elevating it to over 1.8 GWp and expanding its total portfolio to approximately 4.8 GWp. This expansion will enhance the company’s footprint across India, reinforcing its position in the renewable energy sector.
The successful closure of this deal highlights the growing importance of renewable energy in India’s power landscape and underscores Khaitan & Co’s expertise in facilitating complex energy transactions.
