Sembcorp Industries has entered into a share purchase agreement to acquire 100% ownership of ReNew Sun Bright Private Limited through its wholly-owned subsidiary, Sembcorp Green Infra Private Limited. The acquisition, valued at approximately SGD 246 million, involves the purchase of the company from ReNew Private Limited.

Asset Details and Operations

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

Transaction Structure and Timeline

The acquisition will be funded through a combination of internal cash resources and external borrowings. The total consideration is subject to customary adjustments on or after the date of signing of the agreement. The transaction value is based on an exchange rate of INR 1 to SGD 0.0145 as of September 26, 2025. Completion of the acquisition is subject to certain conditions precedent, including regulatory approvals, and is expected to occur in the first half of 2026.

Impact on Sembcorp's Renewable Energy Capacity

Upon completion of this acquisition, Sembcorp's installed and under-development gross renewable energy capacity in India will reach 6.9 GW. On a global scale, Sembcorp has achieved a gross renewable energy capacity of 19.3 GW, including pending acquisitions.

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