Sembcorp has completed the acquisition of a 100% stake in ReNew’s 300 MW solar power project in Fatehgarh, Rajasthan.
Image: Dennis Schroeder/ NREL
Singapore-headquartered Sembcorp Industries (Sembcorp) today announced that it has completed the acquisition of a 100% stake in ReNew’s arm ReNew Sun Bright that owns and operates a 300 MW solar power project in Fatehgarh, Rajasthan.
The acquisition, valued at around S$246 million, was done through Sembcorp’s wholly-owned subsidiary Sembcorp Green Infra.
The project commenced commercial operations in November 2021 and is connected to the national grid via the inter-state transmission system. It supplies power under a 25-year power purchase agreement with Maharashtra State Electricity Distribution Co. Ltd.
Currently, Sembcorp’s renewable capacity installed and under development in India stands at over 7.6 GW. Its global renewables portfolio stands at 20.2 GW, including an acquisition pending completion.
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