Singapore-based Sembcorp Industries has agreed to acquire ReNew’s 300MW solar power unit in India for around US$246 million.
The deal was executed through its wholly owned subsidiary, Sembcorp Green Infra, which signed a share purchase agreement with ReNew Private Limited to acquire 100% ownership of ReNew Sun Bright. The acquisition marks another step in Sembcorp’s strategy to expand its renewable energy portfolio and strengthen its position in India’s fast-growing solar sector.
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
The 300MW solar power asset is located in Fatehgarh, Rajasthan. The project began commercial operations in November 2021 and is connected to the national grid through the Inter-State Transmission System (ISTS). It supplies power under a 25-year power purchase agreement (PPA) with the Maharashtra State Electricity Distribution Company Limited (MSEDCL).
According to the company, the acquisition will be funded through a mix of internal cash resources and external borrowings. Completion is subject to customary conditions, including regulatory approvals, and is expected to close in the first half of 2026.
Upon completion, Sembcorp’s gross renewable energy capacity installed and under development in India will reach 6.9GW, the firm said. Globally, including acquisitions pending completion, Sembcorp has achieved a gross renewable energy capacity of 19.3GW, it added.
Recently, the company received a letter of award from Indian public sector power firm Satluj Jal Vidyut Nigam (SJVN) for 150MW of solar power and a 300MWh battery energy storage system (BESS). It was one of the successful bidders in SJVN’s latest tender, which concluded earlier this month, offering 1,200MW of solar generation capacity and 600MW/2,400MWh of battery energy storage.
