NEW DELHI — RP-Sanjiv Goenka Group’s renewable energy platform Purvah Green Power will acquire a 1.4 gigawatt-peak portfolio of operational solar projects from ReNew Solar Power for an enterprise value of 48.59 billion rupees ($510 million), expanding the Indian conglomerate’s renewable generation business.
The acquisition, announced on Monday, comprises six operating solar power projects, according to disclosures and company statements reported by Indian business media. Purvah Green Power is the renewable energy arm of CESC, the power utility controlled by the RP-Sanjiv Goenka Group.
The transaction gives the group immediate access to a large operating renewable portfolio rather than projects still under development. The enterprise value is equivalent to about $510 million based on the exchange rate cited in the transaction reporting.
The deal is part of RP-Sanjiv Goenka Group’s broader push into renewable energy. The group has said it aims to build a renewable energy portfolio of about 10 GW, with investments spanning solar, wind and energy storage.
The acquisition also strengthens Purvah’s position in India’s expanding renewable power market, where established operators and infrastructure investors have increasingly sought operating assets to expand generation capacity. ReNew has been among the country’s major renewable energy developers, while CESC has been expanding beyond its traditional electricity-generation and distribution operations through investments in cleaner power.
Purvah Green Power has also been developing its own renewable capacity. In a 2025 auction conducted by Railway Energy Management Company, Purvah won a contract for 180 MW of round-the-clock renewable power at a tariff of 4.35 rupees per kilowatt-hour, alongside five other developers.
The acquisition follows other recent expansion efforts by the RP-Sanjiv Goenka Group in renewable energy and related infrastructure. The group has outlined plans for significant investment in renewable generation and energy storage, while separately pursuing solar manufacturing capacity in Uttar Pradesh.
The latest transaction is expected to add the 1.4 GWp operating portfolio to the group’s renewable platform once the acquisition is completed. The announced enterprise value and portfolio capacity are the latest confirmed details of the deal.
