CESC Ltd has secured 600 MW of wind-solar hybrid power capacity through power purchase agreements (PPAs) with four entities. According to the latest regulatory filing, the agreements were signed with Vismaya Renewables India Project Private Ltd (100 MW), Hexa Climate Solutions Private Ltd (100 MW), Purvah Green Power Private Ltd (300 MW), and Sprng Energy Private Ltd (100 MW). The company issued four letters of award (LoAs) following successful bids under a competitive bidding process.
The bidding process was conducted in accordance with Ministry of Power guidelines dated August 21, 2023, for procurement from grid-connected wind-solar hybrid power projects. As reported by the latest regulatory filing, all four projects involve long-term supply of hybrid power with each PPA set to remain in force for 25 years. The discovered tariffs range between ₹3.74-3.75 per kWh, with Purvah Green Power Private Ltd supplying at ₹3.75 per kWh, while Hexa Climate Solutions Private Ltd and Sprng Energy Private Ltd also supply at ₹3.75 per kWh, and Vismaya Renewables India Project Private Ltd supplies at ₹3.74 per kWh.
These agreements represent CESC's strategic move to enhance its renewable energy portfolio, aligning with the guidelines set by the Ministry of Power, Government of India, for the procurement of power from grid-connected wind-solar hybrid power projects. The long-term contracts ensure stable supply of renewable energy for the next 25 years, supporting the company's transition toward sustainable energy sources. The 300 MW capacity from subsidiary Purvah Green Power Private Limited demonstrates the company's commitment to leveraging internal capabilities while maintaining 300 MW from third-party entities for optimal capacity and pricing outcomes.
Among the awarded entities, Purvah Green Power Private Ltd is a subsidiary of CESC, making it a related party transaction. However, according to the latest regulatory filing, the company has clarified that the transaction is conducted on an arm's length basis and follows a tariff-based competitive bidding process. The other three entities are domestic companies with no promoter group linkage to CESC, ensuring compliance with regulatory requirements for independent procurement.
