Sembcorp to buy ReNew’s 300 MW solar power unit
New Delhi: Singapore-headquartered Sembcorp Industries has acquired a 300 MW solar power project in Rajasthan from ReNew Energy Global Plc at an enterprise value of $191 million, the two companies separately announced on Wednesday.
Sembcorp’s subsidiary, Sembcorp Green Infra, signed a deal with ReNew to purchase the solar asset, which began commercial operations in November 2021 and is connected to the national grid. The project operates under a 25-year power purchase agreement with Maharashtra State Electricity Distribution Company.
