The target owns and operates a 300 megawatt (MW) solar power asset in Fatehgarh, Rajasthan, India. The solar project commenced commercial operations in November 2021, and operates under a 25-year power purchase agreement with Maharashtra State Electricity Distribution Company.
Sembcorp Industries announced on Boxing Day that its subsidiary Sembcorp Green Infra has completed the acquisition of a 100% stake in Indian solar operator ReNew Sun Bright earlier than expected.
The deal, worth $246 million, was first announced on Oct 8 and estimated to be completed in 1H2026. It is funded through a combination of internal cash resources and external borrowings.
