Gurugram: Sembcorp Industries (Sembcorp), through its fully-owned subsidiary, Sembcorp Green Infra Private Limited, has signed a share purchase agreement with ReNew Private Limited to obtain complete ownership of ReNew Sun Bright Private Limited (ReNew Sun Bright) for an estimated total of around S$246 million.
ReNew Sun Bright manages a 300 MW solar power facility situated in Fatehgarh, Rajasthan, India. This project began its commercial operations in November 2021 and is linked to the national grid through the Inter-State Transmission System. It functions under a 25-year power purchase agreement with the Maharashtra State Electricity Distribution Company Limited.
The acquisition will be financed through a blend of internal cash reserves and external borrowing. Its completion is contingent upon meeting certain conditions, including obtaining regulatory approvals, and is anticipated to occur in the first half of 2026.
Upon completion, Sembcorp’s gross renewable energy capacity installed and under development in India will reach 6.9 GW. Globally, Sembcorp has achieved a gross renewable energy capacity of 19.3 GW, including acquisitions pending completion.