RP-Sanjiv Goenka Group company CESC is looking out for acquiring renewable energy projects which are under implementation, but has got held up for some reason or the other.
This indication was available during a recent interaction with the CESC top-brass. “The company is examining a few renewable energy projects for possible takeover,” they said.
CESC, which is essentially a thermal power company (capacity 1,225 MW), has begun implementing a hydel power project in Arunachal Pradesh for which detailed project report is being readied. It would invest some Rs.100 crore for setting up a 5 MW solar power project in Gujarat, it was learnt.
It is targeting a 500 MW renewable energy capacity within five years. “This could be through hydel and wind projects”, the company said. However, the company is not planning to set up solar power projects in the power-starved Sundarbans area.
It may be mentioned that CESC stepped outside West Bengal through its acquisition of the Chandrapura project in Maharashtra, in which it bought a little over 50 per cent stake from Dhariwal Infrastructure Private Ltd. It marked the utility's entry into the national arena. This was in August 2009.
Keywords: Goenka Group company