CESC Limited Awards 600 MW Wind-Solar Hybrid Power Contracts to Four Entities
CESC Limited awarded four Letters of Award for 600 MW Wind-Solar Hybrid Power Projects. Purvah Green Power will supply 300 MW, with others supplying 100 MW each. Agreements are for 25 years, with tariffs ranging from ₹3.74 to ₹3.75 per kWh. Purvah is a subsidiary and the deal is an arm's length transaction.
The award of contracts for 600 MW of hybrid power projects is a material development that will contribute to the company's future energy supply and revenue. The long-term nature of the agreements provides visibility, justifying a medium impact.
The company has secured new orders for a significant capacity of hybrid power projects, which is a positive development for its business operations and future revenue streams. The long-term nature of the contracts also indicates stability.
CESC Limited has announced the issuance of four Letters of Award to Purvah Green Power Private Limited, Vismaya Renewables India Project Private Limited, Hexa Climate Solutions Private Limited, and Sprng Energy Private Limited. These awards are for the setup of Wind-Solar Hybrid Power Projects, following a competitive bidding process initiated by the Ministry of Power, GoI. Purvah Green Power Private Limited will supply 300 MW, while the other three entities will each supply 100 MW, totaling 600 MW of hybrid power. The power purchase agreements for these projects are set to remain in force for a period of 25 years. The applicable tariff for Purvah Green Power is ₹3.75 per kWh, and for Vismaya Renewables, Hexa Climate Solutions, and Sprng Energy, it is ₹3.74/kWh, ₹3.75/kWh, and ₹3.75/kWh respectively. Notably, Purvah Green Power Private Limited is a subsidiary of CESC Limited, and this transaction falls under related party transactions, conducted on an arm's length basis and in the ordinary course of business.
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CESC Limited filed this with the NSE as a statutory disclosure, categorised under new orders. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by CESC Limited. Read the original for the full detail.