Sembcorp Industries (through its wholly-owned subsidiary, Sembcorp Green Infra, has entered into a share purchase agreement with ReNew to acquire 100% ownership of ReNew Sun Bright (ReNew Sun Bright), for a total consideration1 of approximately S$246 million2.
ReNew Sun Bright owns and operates a 300MW 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.
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 6.9GW. Globally, Sembcorp has achieved a gross renewable energy capacity of 19.3GW3, including acquisitions pending completion.
