India, Aug. 10 -- The RP-Sanjiv Goenka Group (RPSG) today announced that Purvah Green Power Private Limited, the renewable energy platform of CESC Limited, is set to acquire a 1.4 GWp operating solar portfolio from ReNew Solar Power Private Limited, held across six project special purpose vehicles in Rajasthan and Karnataka, at an enterprise value of Rs. INR 4859 crore (USD 509 million at Rs.95.5/USD). The acquisition has been funded by the parent company.

The transaction is among the largest acquisitions of operating solar assets in the Indian market and marks a decisive shift in the composition of Purvah's portfolio - from a platform built primarily on projects under development to one anchored by assets already generating contracted c...