CESC Awards 300MW Solar Project to Subsidiary Purvah Green
Sep 11, 2024 14:35
CESC Limited awards a 300MW solar power project to its subsidiary Purvah Green, marking a significant step in its renewable energy expansion. The project includes both tariff-based bidding and greenshore options, with a 25-year power purchase agreement.
Kolkata, Sep 11 (PTI) Power utility major CESC Limited on Wednesday said that it has selected its subsidiary Purvah Green Power Private Limited for the development of a 300 MW solar PV electricity project.
Of the 300 MW, the company said, 150 MW would be under tariff-based competitive bidding in India, and the rest would be under the greenshore option.
The power purchase agreement would be in force for 25 years, starting from the scheduled commencement of power supply, the company said in a regulatory filing.
While the contract value was not disclosed, this project marks a significant step in CESC's renewable energy expansion.
In July 2024, CESC acquired 63.91 per cent equity shares in Purvah Green Power for Rs 205 crore, making it a direct subsidiary.
The acquisition was previously held under Crescent Power Limited, a subsidiary of CESC.
CESC, a leading power utility company, operates in the generation, transmission, and distribution of electrical power across various regions.
The company's investment in Purvah is expected to bolster its green energy portfolio, which is targeted to reach 2GW in the near future.
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