Sembcorp to buy ReNew unit for $189mn

New Delhi: Sembcorp Industries is acquiring ReNew Sun Bright, a venture of ReNew Power that operates a 300 MW solar power project, for about $189 million (Singapore $246 million). Sembcorp will fund the acquisition through a combination of internal cash resources and external borrowings. The deal is expected to be completed in the first half of 2026.ReNew Sun Bright’s project is located in Fatehgarh district of Rajasthan. It started in 2021 and operates under a 25-year power purchase agreement with Maharashtra State Electricity Distribution Company.