CESC to back subsidiary’s Rs 5,000 crore solar and battery manufacturing project

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26 Aug, 2025 12:21

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CESC Ltd has announced that it will provide financial support to its wholly owned subsidiary, CESC Green Power Ltd, for setting up a large-scale renewable energy and manufacturing project with a planned capital investment of up to Rs 5,000 crore.

According to the company’s disclosure, the project will include the establishment of a solar cell and module manufacturing facility with a capacity of over 3 GW, a battery manufacturing unit, and a 60 MW renewable energy power plant across various locations in India. The support from CESC will cover equity infusion, strategic assistance, and facilitation of institutional funding to enable financial closure and smooth implementation of the project.

The company said this move aligns with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

This project comes as part of CESC’s broader strategy to accelerate its clean energy portfolio. The company, through its renewable arm Purvah Green Power, has outlined plans to build a clean energy pipeline of around 10 GW, with 3.2 GW of hybrid wind and solar projects expected to be commissioned by FY29. CESC has also awarded a Rs 346 crore EPC contract to Waaree Renewable Technologies for a 300 MW AC solar project in Rajasthan, and Purvah Green is executing a 150 MW wind-solar hybrid project as part of its expanding portfolio.

Industry experts note that favourable policy developments -- including recent GST cuts on renewable energy equipment -- are expected to lower capital costs and improve project viability, providing a supportive backdrop for CESC’s large-scale green power push.

Shares of CESC were trading at Rs 166.09 on Friday, up 0.66 percent within a day’s range of Rs 164.67-167.35. The stock has declined 12.22 percent over the past year and has traded between Rs 119 and Rs 212.49 during the period.