CESC Accelerates Renewables Push with 10 GW Pipeline, Targets Growth Through Clean Energy

CESC Ltd. the flagship power utility of the RP-Sanjiv Goenka Group, is making a decisive pivot towards renewable energy, unveiling plans for a massive 10,000 MW clean energy projects in the pipeline to align with India’s net-zero ambitions.

As per the recently issued 'Investor Update for Q1 FY26', through its renewable subsidiary, Purvah Green Power, the company is currently executing 3.2 GW of hybrid solar and wind projects slated for completion by FY29. Phase two of the initiative will take this capacity to 10 GW, positioning CESC as a major player in the green energy transition.

Construction of a 300 MW solar project in Rajasthan is already underway, with commissioning targeted for the fourth quarter of FY26. The company has made significant progress on regulatory and logistical fronts, securing grid connectivity for 3.8 GW of its proposed 7.3 GW capacity and acquiring 3,000 acres of land for development, with another 8,000 acres under active evaluation. The move comes as India’s energy landscape shifts rapidly, driven by rising power demand from electric vehicles, data centers, and the emerging green hydrogen sector.

India’s electricity consumption is poised to rise sharply, with EV demand expected to increase tenfold by FY30, data center power usage projected to grow at a 30 percent compound annual rate, and the green hydrogen sector alone requiring an estimated 125 GW of renewable energy capacity to produce five million tonnes annually by 2030. CESC’s management sees this evolving demand landscape as a critical opportunity, especially given that India’s per capita electricity consumption, at 1,538 kWh, remains less than half the global average.

Further, the company’s financial results for the first quarter of FY26 reflect steady performance. Consolidated revenue rose 7.5 percent year-on-year to INR 5,285 crore, with EBITDA at INR 1,175 crore and profit after tax climbing to INR 404 crore. On a standalone basis, CESC reported revenue of INR 2,906 crore and a 9.9 percent jump in PAT to INR 211 crore. Subsidiaries continued to deliver, with Noida Power posting a 35 percent rise in profits, Dhariwal Infrastructure maintaining positive momentum, and the Rajasthan franchise operations reporting improved profitability. However, challenges persist in Malegaon, where high transmission and distribution losses of over 40 percent are still weighing on the bottom line.

Operationally, CESC maintained strong performance across its power plants. The Haldia thermal plant emerged as the best-performing unit in the country in terms of Plant Load Factor (PLF), recording an impressive 97 percent efficiency. The Dhariwal plant received industry recognition for energy efficiency and digital innovation, while overall transmission and distribution losses across the company were reduced to 12.78 percent, down from 13.28 percent in the same period last year.

The company’s distribution business continues to expand following its acquisition of Chandigarh Power Distribution Limited (CPDL) in February this year. A multi-year tariff (MYT) petition for FY26–30 has been submitted to the Joint Electricity Regulatory Commission, outlining CPDL’s roadmap for operational and financial planning.

The RP-Sanjiv Goenka Group, reported revenues of nearly USD 5 billion in FY25 and an asset base exceeding USD 8 billion, with over 55,000 employees worldwide.

While the company remains optimistic about the sector’s long-term growth prospects, it has flagged certain external risks, including fluctuations in raw material prices, demand-supply mismatches, and policy changes. Nonetheless, with rising clean energy investments and a firm grip on operational efficiency, CESC appears well-positioned to play a leading role in India’s transition to a sustainable energy future.