Sembcorp Industries has completed the acquisition of a 300 MW solar project in the Indian state of Rajasthan.
The Singapore-based group said it has acquired a 100% stake in ReNew Sun Bright, which owns and operates the Fatehgarh solar project, through its wholly owned subsidiary Sembcorp Green Infra, for approximately SGD246 million ($191.6 million).
The project became commercially operational in November 2021 and is connected to India’s national grid through the inter-state transmission system. The facility’s power is sold under a 25-year power purchase agreement (PPA) with Maharashtra State Electricity Distribution Co. Ltd.
Post-transaction, Sembcorp’s installed and under-development renewable energy capacity in India exceeds 7.6 GW. The company’s global renewables portfolio totals 20.2 GW, including assets yet to be completed.
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