Sembcorp buys majority stake in Green Infra

 Sembcorp Utilities, a wholly-owned subsidiary of Singapore-based Sembcorp Industries, has signed agreements to acquire a 60 per cent stake in Green Infra, a renewable energy company in India with a wind and solar portfolio. This acquisition marks Sembcorp’s entry into India’s attractive renewable energy market, and is a major step in the company’s strategy to grow its renewable energy business.
Sembcorp signed a shareholders’ agreement and a share purchase agreement with IDFC Private Equity Fund II and IDFC Private Equity Fund III, to invest in a 60 per cent stake in Green Infra for ` 1,060 crore. The investment will be held through Sembcorp Renewables, a wholly-owned subsidiary of Sembcorp Utilities.

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