Sembcorp Industries Expands Renewable Energy Footprint with Strategic Acquisition

Sembcorp Industries is set to enhance its renewable energy portfolio in India with the acquisition of ReNew Pvt Ltd's unit, ReNew Sun Bright, for 246 million Singapore dollars. The deal boosts Sembcorp's renewable capacity globally to 19.3GW. The acquisition underlines Sembcorp's commitment to sustainable energy solutions.

Singapore-based Sembcorp Industries announced a significant expansion of its renewable energy ventures in India with a strategic acquisition valued at approximately 246 million Singapore dollars. The deal will see Sembcorp gaining full ownership of ReNew Sun Bright, a key player with a substantial solar power plant in Rajasthan.

This acquisition is poised to elevate Sembcorp's gross renewable energy capacity in India to 6.9GW, contributing to the company's global portfolio of 19.3GW. ReNew Sun Bright's solar facility, operational since November 2021, connects to the national grid with a long-term power purchase agreement with Maharashtra State Electricity Distribution Company Limited.

Funding for the acquisition will be a mix of internal resources and external borrowings, with completion slated for the first half of 2026 pending regulatory approvals. Sembcorp Green Infra, a key subsidiary, plays a pivotal role in this expansion, with robust expertise in engineering, project execution, and asset management, reinforcing Sembcorp's vision for a sustainable future.

(With inputs from agencies.)