RP Sanjiv Goenka Group Eyes Northeasts Renewable Energy Potential

The RP Sanjiv Goenka Group, a prominent Indian conglomerate with revenue exceeding USD 4 billion, has expressed its interest in exploring investment opportunities in the Northeast region of India, particularly in the renewable energy sector. The group's officials recently held a preliminary one-on-one meeting with the Minister of State for Development of North Eastern Region (DoNER), B L Verma, during an investment roadshow held in Kolkata.

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Exploring Hydropower Potential

During the meeting, the RP Sanjiv Goenka Group expressed its willingness to explore hydropower opportunities in the Northeast, recognizing the immense potential the region holds in this sector. Arunachal Pradesh, a state in the Northeast, has already signed Memorandums of Understanding (MoUs) with central public sector undertakings to construct 13 hydropower projects with a potential to generate 13,000 MW of power and attract investments worth Rs 1.4 lakh crore.

CESC's Renewable Energy Ambitions

CESC Ltd, the flagship company of the RP Sanjiv Goenka Group, has previously announced its plans to make substantial investments in renewable energy generation of up to 3 GW in a hybrid portfolio through its subsidiaries in various states across the country. The company's green ambition encompasses a mix of solar, wind, and green hydrogen projects.

Expanding Renewable Energy Footprint

CESC Ltd is actively exploring ways to increase its renewable energy footprint and partially meet the renewables purchase obligations of its distribution business. To achieve its 3 GW green energy goal, the company is seeking to acquire over 50,000 acres of land in states like Rajasthan and Gujarat. Approximately 250 acres in Bikaner, Rajasthan, are already in the company's physical possession, and the process of obtaining Rajasthan Renewable Energy Corporation registration and transmission connectivity is underway for an additional 2,000 acres.

Diversified Business Interests

The RP Sanjiv Goenka Group has a diverse portfolio of business interests across various sectors, including power (CESC), IT services (First Source), carbon black (PCBL), retail (Spencers), FMCG, real estate, education, and sports.

The RP Sanjiv Goenka Group's interest in exploring investment opportunities in the Northeast, particularly in renewable energy, aligns with the region's potential and the government's focus on sustainable development. The group's expertise and experience in various sectors position it as a significant player in driving economic growth and progress in the Northeast.