Purvah Green Power Private Limited (PGPPL), a subsidiary of CESC Limited, has entered into a binding term sheet to acquire 100% shareholding of Bhojraj Renewables Energy Pvt Ltd (BREPT). The acquisition aims to secure approvals for a 300 MW wind project and a 150 MW solar project, with a focus on expanding renewable energy assets.
The agreement, signed on October 3, 2024, covers land acquisition, permits, and approvals necessary for the renewable energy development. The acquisition will be completed over an approximate period of 9 months, subject to the achievement of certain project milestones. The total cash consideration for the transaction is up to INR 108.56 crore.
BREPT, incorporated in 2024, is involved in renewable energy development and has received in-principle approval for a 300 MW connectivity project. The acquisition aligns with CESC’s strategy to expand its renewable energy portfolio.