CESC Awards 150 MW Wind-Solar Hybrid Power Project to Purvah Green

09 Jan 2025 CW Team

Purvah Green Power, a subsidiary of Kolkata-based power utility Calcutta Electric Supply Corporation (CESC), has won a 150 MW interstate transmission system (ISTS)-connected wind-solar hybrid power project from CESC. The project comes with an additional 150 MW capacity under the greenshoe option. The project was awarded as per the guidelines for tariff-based competitive bidding for grid-connected wind-solar hybrid power projects issued by the Ministry of Power. Purvah will enter a 25-year power purchase agreement with CESC. As Purvah is a subsidiary of CESC, this project falls under the category of related-party transactions. However, CESC has clarified that the agreement has been executed on an arm’s length basis, ensuring transparency and compliance with regulatory requirements. CESC is an integrated power utility company, engaged in the generation, transmission, and distribution of electricity. Last August, CESC acquired a 63.91% equity stake in Purvah Green Power at the cost of Rs 2.05 billion (~$24.48 million) in August last year. Purvah was a wholly-owned subsidiary of Crescent Power, which is a subsidiary of CESC. In September 2024, Purvah was selected by CESC to develop 300 MW of ISTS-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.

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