Purvah Green Power has announced the acquisition of an approximately 1.4 GWp solar portfolio from ReNew Solar Power in a transaction valued at about Rs 4,859 crore. The portfolio comprises six special purpose vehicles with assets in Rajasthan and Karnataka.
Transactions of this type are how India''s renewable sector recycles capital. Developers who build and commission projects sell operating assets to buyers seeking stable, contracted cash flows, freeing balance-sheet capacity for the next construction cycle.
The structure — six SPVs rather than a single asset — also matters. It allows the buyer to acquire discrete project companies with their own power purchase agreements and debt, which simplifies both diligence and future partial exits.
