Sembcorp Industries has agreed to acquire 100% ownership of ReNew Sun Bright Private Limited, which owns and operates a 300MW solar power project in Rajasthan, India.

The Singapore-based company, acting through its wholly owned subsidiary Sembcorp Green Infra Private Limited, will purchase the business from ReNew Private Limited for approximately S$246 million, funded through a mix of internal resources and external borrowings.

The Fatehgarh-based project began operations in November 2021 and is connected to the national grid via the Inter-State Transmission System. It supplies electricity under a 25-year power purchase agreement with Maharashtra State Electricity Distribution Company Limited.

Completion of the transaction remains subject to regulatory approvals and other customary conditions precedent, with closing expected in the first half of 2026.

Following the acquisition, Sembcorp’s total renewable energy capacity installed and under development in India will rise to 6.9GW. On a global basis, the company’s gross renewable capacity now stands at 19.3GW, including projects pending completion.

More information:https://renews.biz/103541/sembcorp-to-acquire-300mw-indian-solar-project/