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CESC Ltd, an RP-Sanjiv Goenka Group company, today announced that it has acquired two hydroelectric power projects of India Bulls group totaling 146 mw in Arunachal Pradesh for an undisclosed sum.
In a communication to the Stock Exchanges, the company has confirmed that it has entered into agreements to take over two hydroelectric power projects of India Bulls.
Giving further details, the company spokesman confirmed that CESC has acquired the entire equity shares of Pachi Hydro Power Projects Ltd and Papu Hydro Power Projects Ltd, both belonging to India Bulls Group.
Pachi Hydro is a special-purpose vehicle established to undertake the 56 mw Phangchung Hydro Electricity Project in East Kameng district of Arunachal Pradesh. The 90 mw Papu Hydro Electricity Power Project is also located in East Kameng district, Arunachal Pradesh.
CESC at present has undertaken a 90 mw hydel power project in Arunachal Pradesh in West Sian district. The project is under development and will be built across Siom River near village Jarong.
CESC's plans in hydroelectric project now totals 236 mw. At present, CESC has a total thermal power generation capacity to 1225 MW. Two coal-based thermal power stations of 600 mw each are under construction at Chandrapur, Maharashtra and Haldia, West Bengal. The Chandrapur project is expected to be commissioned next year.
CESC has also major plans to enter into solar energy generation. Last month it successfully completed its first solar energy project (9 MW) in Gujarat.
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