Purvah Green Power, a subsidiary of Calcutta Electric Supply Corporation (CESC), has entered into a binding term sheet to acquire a 100% stake in Bhojraj Renewables Energy to develop a 300 MW wind project and a 150 MW solar project.

The acquisition is structured as a cash deal, with Purvah Green committing up to ₹1.08 billion (~$12.86 million), contingent on fulfilling key project milestones.

In return, Bhojraj Renewables will facilitate land acquisition and the necessary permits and approvals for the wind and solar projects. The company has secured in-principle connectivity approval for the 300 MW wind project.

The entire process, from acquisition to securing land and project approvals, is expected to take approximately nine months.

Purvah Green began operations in December 2023 in West Bengal and focuses on generating and trading in renewable energy.

Incorporated in 2024, Bhojraj Renewables focuses on developing renewable energy assets.

Purvah was recently selected by CESC to develop 300 MW of interstate transmission system-connected solar power projects across India. Of the total capacity, 150 MW will be developed through tariff-based competitive bidding, while the remaining 150 MW will be executed under a greenshoe option. As part of the agreement, Purvah will sign a 25-year power purchase agreement within 30 days of receiving the letter of award.

In August, CESC acquired a 63.91% equity stake in Purvah Green Power at the cost of ₹2.05 billion (~$24.48 million). In a regulatory filing, CESC said it acquired the 63.91% stake by subscribing to 205 million equity shares of ₹10 (~$0.12) each for an aggregate consideration amounting to ₹ 2.05 billion (~$ 24.48 million).

In April, CESC announced in a bourse filing that Purvah Green Power had completed the acquisition of Bhadla Three SKP Green Ventures, which was developing a 300 MW solar park in Rajasthan.