Purvah Green Power, a subsidiary of Calcutta Electric Supply Corporation (CESC), has been awarded a 150 MW interstate transmission system (ISTS)-connected wind-solar hybrid power project by CESC. The project includes an additional 150 MW capacity under the greenshoe option, following guidelines for tariff-based competitive bidding issued by the Ministry of Power.
The agreement for the project will be executed through a 25-year power purchase agreement (PPA), categorised as a related-party transaction due to Purvah’s subsidiary status. CESC has stated that the agreement is conducted on an arm’s length basis to ensure transparency and regulatory compliance.
In October 2024, Purvah Green Power signed a binding term sheet to acquire a 100 per cent stake in Bhojraj Renewables Energy for developing a 300 MW wind project and a 150 MW solar project. The Rs 1.08 billion cash deal involves Bhojraj Renewables facilitating land acquisition, permits, and approvals for the projects.
In September 2024, Purvah Green Power was awarded a 300 MW solar photovoltaic project by CESC, including 150 MW through tariff-based competitive bidding and the remaining under the greenshoe option, with a 25-year PPA.