Purvah Green Power Private Limited, a subsidiary of CESC Limited, has acquired 100% of the share capital of 6 Renewable Energy SPVs from ReNew Solar Power Private Limited, pursuant to a Share Purchase Agreement.
The SPVs include ReNew Hans Urja Private Limited, ReNew Solar Photovoltaic Private Limited, ReNew Wind Energy (Karnataka 3) Private Limited, ReNew Wind Energy (MP Four) Private Limited, ReNew Wind Energy (Karnataka 4) Private Limited, and ReNew Agni Power Private Limited. They own and operate six power projects located across the states of Rajasthan and Karnataka, with a cumulative capacity of 1,411.48 MWDC.
Khaitan & Co advised Purvah Green Power on this acquisition.
The transaction team consisted of Prashant Sirohi (Partner), Anuj Singh Chauhan (Principal Associate), Pooja Ravikrishnan (Senior Associate), Associates Divisha Dwivedi and Abhishek Choudhary.
Sudhir Bassi (Executive Director) provided support on capital markets related aspects and Raghav Bajaj (Partner) provided support on tax related aspects.
HSA Advocates advised ReNew Solar Power on this transaction.
The transaction was led by Pranav Kumar Singh (Partner), along with Armin Pardiwala (Partner) and Aditya Khandelwal (Partner), with assistance from Annapurna Sreehari and Muneera Shabeer (Attorneys).
The completion of this transaction will significantly accelerate the pan-India presence of the Purvah Green’s portfolio increasing its operational capacity to over 1.8 GWp, bringing the total portfolio to approximately 4.8 GWp.
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