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.

Infrastructure Energy

09 Jan 2026

Rajesh Power Secures 65 MW BESS Project in Gujarat

Rajesh Power Services has recently secured a 65 MW / 130 MWh standalone Battery Energy Storage System (BESS) project in Gujarat, marking its entry into utility-scale energy storage. The company received a Letter of Intent from Gujarat Urja Vikas Nigam for the project, which will be developed at Virpore under a tariff-based competitive bidding mechanism supported by Viability Gap Funding through the Power System Development Fund.The project is expected to be executed within 18 months from the signing of the Battery Energy Storage Purchase Agreement. With the ability to supply 65 MW of power for..

ONGC Forms JV with MOL for Ethane Shipping Operations

Oil and Natural Gas Corporation (Oil and Natural Gas Corporation) has recently entered the ethane shipping segment through joint venture agreements with M/s Mitsui O.S.K. Lines Ltd (Mitsui O.S.K. Lines), Japan. The agreements involve equity participation in two joint venture entities—Bharat Ethane One IFSC Private Limited and Bharat Ethane Two IFSC Private Limited—registered at GIFT City, Gandhinagar.Under the arrangement, ONGC will subscribe to 2,00,000 equity shares of Rs 100 each in both entities, resulting in a 50 per cent equity holding in each joint venture, with the remaining stake ..

Waaree Energy Storage Raises Rs 10.03 Billio for 20 GWh Plant

Waaree Energy Storage Solutions Private, a subsidiary of Waaree Energies, has recently completed a strategic fund raise of around Rs 10.03 billion from a group of strategic investors, including family offices, high-net-worth individuals and institutional backers. The funding strengthens the company’s position in India’s rapidly expanding energy storage ecosystem.The capital raise forms part of an announced capital expenditure programme of nearly Rs 100 billion for setting up a 20 GWh advanced lithium-ion cell and battery pack manufacturing facility. The plant will manufacture high-performa..