Sembcorp Acquires ReNew Sun Bright for Rs 1,700 Cr

New Delhi, Oct 8 (PTI) Singapore's Sembcorp Industries on Wednesday said it has agreed to acquire a unit of ReNew Pvt Ltd for about 246 million Singapore dollar (around Rs 1,700 crore).

Following the acquisition, Sembcorp's total gross renewable energy capacity in India will rise to 6.9GW. Globally, the company's gross renewable portfolio, including pending acquisitions, will reach 19.3GW.

The firm through its wholly-owned subsidiary, Sembcorp Green Infra Pvt Ltd, "has entered into a share purchase agreement with ReNew Private Limited to acquire 100 per cent ownership of ReNew Sun Bright Private Limited (ReNew Sun Bright), for a total consideration of approximately Singapore Dollar 246 million," according to a company statement.

ReNew Sun Bright owns and operates a 300-MW solar power plant in Fatehgarh, Rajasthan, which began commercial operations in November 2021. The facility is connected to national grid via the Inter-State Transmission System and operates under a 25-year power purchase agreement with Maharashtra State Electricity Distribution Company Limited.

The acquisition will be funded through a mix of internal cash and external borrowings. Completion is expected in the first half of 2026, subject to regulatory approvals and other closing conditions.

Incorporated in 2008, Sembcorp Green Infra has established a presence across 18 states in India. It is part of Sembcorp Industries - a leading provider of energy and urban solutions, guided by its purpose to do good and contribute towards building a sustainable future.

With a proven track record in identifying and developing power generation assets, the company has also embraced digital technologies to enhance asset management and ensure long-term operational excellence.

Sembcorp Green Infra holds one of the highest wind capacities under self-operation by an independent power producer in India. It boasts strong in-house engineering and project execution capabilities and has been successfully self-installing solar and wind generation assets across the country.