CESC Ltd on Wednesday said it has acquired India Bulls group outfits engaged in developing two separate hydropower projects in Arunachal Pradesh.
In a communication to the stock exchanges, CESC said it entered into agreements to take over the hydroelectric projects with an aggregate capacity of 146 MW in Arunachal. The company spokesman confirmed the acquisition of entire equity shares of Pachi Hydro Power Projects Ltd and Papu Hydro Power Projects Ltd.
Pachi Hydro is a special-purpose vehicle established to undertake the 56 MW Phangchung Hydro Electric Project in East Kameng district of the State.
The 90-MW Papu Hydro Electric Project is also located in East Kameng district.
CESC already has an on-going 90 MW hydel power project in Arunachal's West Sian district. This project will be built across Siom River near village Jarong.
These acquisitions will strengthen CESC's position in the field of hydroelectricity generation. Currently, CESC has a total thermal power generation capacity of 1,225 MW.
At present, CESC is constructing two coal-based power stations of 600 MW each at Chandrapur in Maharashtra and Haldia in West Bengal.
The Chandrapur project is expected to be commissioned next year. CESC also has entered into solar energy generation. Last month it completed its first solar energy project (9 MW) in Gujarat.