M&A M&A
Sembcorp to acquire ReNew Sun Bright for Rs.1,700-Cr
Source Economic Times (opens in a new tab)Acquirer Announcement (opens in a new tab)
Singapore's Sembcorp Industries, through its wholly-owned subsidiary Sembcorp Green Infra Pvt Ltd, is to acquire 100% ownership of solar power player ReNew Sun Bright Pvt Ltd, a unit of ReNew Pvt Ltd for about SGD 246 million (around INR 1,700 crore).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 the national grid via the Inter-State Transmission System and operates under a 25-year power purchase agreement with Maharashtra State Electricity Distribution Company Ltd.Following the acquisition, Sembcorp's total gross renewable energy capacity in India will rise to 6.9 GW.