- An Expression of Interest (EoI) has been submitted to the Gujarat government for about 20,000 hectares
- The company is searching for right platform to invest in renewable energy generation
CESC has planned to acquire over 50,000 acres in Rajasthan and Gujarat to fuel its 3 GW hybrid renewable energy portfolio. The company is searching for right platform to invest in renewable energy generation of up to 3 GW in a hybrid portfolio through its subsidiaries in more than one state in the country.
“We are carrying out a study exploring increasing our renewable energy footprint and partially meeting renewables purchase obligations of our distribution business,” a top company official told PTI.
“About 250 acres in Bikaner is under physical possession. An application has been submitted for Rajasthan Renewable Energy Corporation registration and transmission connectivity. (We are) in advanced stages of acquisition for another 2,000 acres,” the official said.
An Expression of Interest (EoI) has been submitted to the Gujarat government for about 20,000 hectares (over 49,000 acres) to develop a solar-wind hybrid portfolio, he said. CESC Projects Ltd, a subsidiary of CESC Ltd, has recently emerged as the winning bidder for a green hydrogen production facility. The project, with a capacity of 10,500 MT per annum, falls under the “Strategic Interventions for Green Hydrogen Transition” scheme by the Solar Energy Corporation of India.
In the December quarter, CESC, with its five thermal power plants, one solar power unit, and six distribution licenses, posted a consolidated net profit of INR 331 crore, reflecting a 10% decline compared to the same period last year. Despite this, the company’s total revenue for the quarter stood at INR 3,301 crore, marking a 2% increase over the INR 3,224 crore recorded in the previous fiscal year 2022-23.
