Sembcorp to acquire 300 MW solar asset in Rajasthan for $246 million

Sembcorp Industries, through its subsidiary Sembcorp Green Infra Private Limited, has agreed to acquire 100% ownership of ReNew Sun Bright Private Limited from ReNew Private Limited for approximately $246 million.

Sembcorp Industries (Sembcorp), through its wholly owned subsidiary, Sembcorp Green Infra Private Limited, has entered into a share purchase agreement with ReNew Private Limited to acquire 100 per cent ownership of ReNew Sun Bright Private Limited (ReNew Sun Bright), for a total consideration of approximately $246 million.  

ReNew Sun Bright owns and operates a 300 MW solar power asset located in Fatehgarh, Rajasthan, India. The project commenced commercial operations in November 2021 and is connected to the national grid via the Inter-State Transmission System. It operates under a 25-year power purchase agreement with Maharashtra State Electricity Distribution Company Limited.  

The acquisition will be funded through a combination of internal cash resources and external borrowings. Completion is subject to conditions precedent, including regulatory approvals, and is expected in the first half of 2026. 

Upon completion, Sembcorp’s gross renewable energy capacity installed and under  development in India will reach 6.9GW3. Globally, Sembcorp has achieved a gross renewable energy capacity of 19.3 GW4, including acquisitions pending completion.