Sembcorp to acquire 100% stake in ReNew Sun Bright

New Delhi: Singapore’s Sembcorp Industries on Wednesday said it has agreed to acquire a unit of ReNew Pvt Ltd for about 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-owThe 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.”

ReNew Sun Bright operates a 300-MW solar power plant in Fatehgarh, Rajasthan, which began commercial operations in November 2021.