CESC Ltd Acquires 100% Stake in Bhadla Three SKP Green Ventures, Boosting Renewable Energy Portfolio

CESC Ltd, a power utility company, has acquired a 100% stake in Bhadla Three SKP Green Ventures, a company developing a 300 MW solar park in Rajasthan, India. The acquisition was completed through CESC's step-down subsidiary, Purvah Green Power, for a consideration of Rs 3.84 crore.

The acquired company is currently in the process of developing the solar park, which is located in the Phalodi district of Rajasthan. The project has obtained the necessary approvals for interstate evacuation of solar power and has partially acquired land. However, it has not yet generated any revenue.

CESC has expressed its intention to acquire over 50,000 acres in Rajasthan and Gujarat to build its 3 GW hybrid renewable energy portfolio. The company is exploring possibilities for substantial investments in renewable energy generation through its subsidiaries in multiple states across India.