RPSG's Purvah Green to buy 1.4 GW solar plants from ReNew for ₹4,859 crore

Before the transaction, Purvah’s contracted capacity stood at roughly 3.4 GWp. Once the deal is completed, total contracted capacity will rise to 4.8 GWp, of which 1.8 GWp is operational and 3 GWp is at various stages of construction. The group also has a 2.2 GWh battery storage project tied up and under implementation. It has plans to build a 10 GW renewable energy platform in the next few years.

The acquisition is the latest in a wave of portfolio sales by Indian renewable developers. ReNew Solar, part of the ReNew Power group, is monetising operational assets while Purvah gains scale without the construction risk of greenfield projects. The long-term PPAs with SECI provide predictable cash flows, a structure that lenders and equity investors favour in the current interest-rate environment.

For the broader Indian solar sector, the deal shows that large operational portfolios still command premiums even as tariffs fall. Developers with strong balance sheets and access to low-cost capital are snapping up built assets, while smaller players may struggle to compete in the consolidation phase. The 10 GW target from RPSG signals that corporate groups see renewable energy as a core growth area, not just a compliance hedge.