Goenka Group Expands Green Push with Welspun New Energy Acquisition
What Happened
RP Sanjiv Goenka Group's Purvah Green Power is set to acquire Welspun New Energy at an enterprise value of about ₹2,500 crore, reportedly ahead of rival bidder Macquarie. The deal would give Purvah access to Welspun’s renewable energy pipeline, including a 245 MW hybrid project in Gujarat and a 700 MW wind-solar-storage pipeline.
Key Takeaways
The acquisition would accelerate Purvah’s ambition to build a 10 GW renewable energy portfolio by 2032, following its recent purchase of 1.4 GW solar assets from ReNew Power.