CESC Ltd Commits ₹38 Billion for 3 GW Solar Cell Plant Under New MoU

Market Update: CESC’s Bold Renewable Energy Expansion

CESC Ltd, a leading power utility under the RP-Sanjiv Goenka Group, has announced a landmark investment in renewable energy. The company signed an MoU to set up a 3 GW solar cell plant, committing ₹38 billion towards the project. This initiative highlights CESC’s ambition to diversify beyond conventional power generation and contribute to India’s solar manufacturing ecosystem.

Key Highlights:

• Investment Size: Around ₹38 billion.
• Project Scope: Establishment of a 3 GW solar cell manufacturing facility.
• Strategic Objective: Strengthen renewable energy portfolio and reduce carbon footprint.
• Sector Context: India targets 500 GW of renewable capacity by 2030, with solar playing a pivotal role.
• Market Impact: The project positions CESC as a key player in India’s solar supply chain, potentially boosting investor confidence in its green energy transition.

This investment marks a significant step in CESC’s transformation journey, reinforcing its commitment to sustainability and aligning with national energy security priorities.

Sources: Business Standard – Corporate Announcements; Economic Times – Energy News; Moneycontrol – Market Updates