CESC Limited has informed the Exchange regarding 'Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015'.
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On the reaction day the stock moved 1.9 pts less than Nifty Smallcap 250 and 1.2 pts less than its Power peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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CESC Limited's subsidiary Purvah Green Power Private Limited has signed a framework agreement with Envision Energy India Private Limited for the supply and commissioning of 1 GW of wind turbine generators (WTGs). The deal also includes operation and maintenance (O&M) services for the wind turbines for a minimum period of 10 years from the date of commissioning. Envision Energy is a domestic Indian entity, and the agreement is confirmed to not be a related party transaction. The exact supply and commissioning timeline will be finalized later. Financial terms of the agreement have not been disclosed in the filing.
This is a positive step for CESC's renewable energy expansion through its subsidiary, signalling commitment to building wind power capacity. However, since it is a framework agreement with no disclosed value or timeline, the immediate impact on the stock may be limited until further details on execution and financials emerge.