RPSG Group's renewable-energy arm has agreed to acquire the portfolio of Renew Solar Power for Rs 48.59 billion (bn). The transaction covers a portfolio of operational and under-development solar assets owned by Renew Solar Power. The companies said the deal consolidates asset ownership under RPSG's clean energy platform. The portfolio comprises a mix of operational and development-stage solar projects, offering both immediate generation capacity and a development pipeline.

The acquisition will broaden RPSG's renewable generation capacity and strengthen its position in the solar segment. Management noted the purchase complements the group's existing investments in clean energy and supports its long-term growth objectives. The transaction is positioned to enhance operational scale and route-to-market synergies. The integration is designed to create cost efficiencies and streamline operations and maintenance across the expanded asset base.

At Rs 48.59 bn, the deal represents a significant investment in renewable infrastructure by the conglomerate. Financing will be met through a combination of group resources and customary financing arrangements, according to company disclosures. The parties will complete customary due diligence and obtain necessary regulatory clearances before closing. Accounting for the acquisition will follow applicable financial reporting standards once the deal completes.

Integration of the acquired assets will be overseen by the group's renewable platform to achieve operational efficiencies. The deal reinforces investor confidence in the group's clean energy strategy and signals consolidation trends in the sector. Closing timelines will depend on standard regulatory processes and stakeholder approvals, with integration planned thereafter. Stakeholders will monitor execution as the group moves to integrate the assets into its existing operations.

The acquisition aligns with wider policy support for renewable energy and underscores the group's commitment to decarbonisation. It contributes to the group's long-term energy transition objectives and provides a platform for future investments. Both companies will provide further updates as regulatory and customary closing steps progress.