ReNew Energy Sells 300 MW Jaisalmer Solar Project to Sembcorp for USD 191 Million

On October 8, 2025, Sumant Sinha promoted ReNew Energy Global Plc, announced the sale of its 300 MW solar power project located in Jaisalmer, Rajasthan, to Sembcorp Industries. The enterprise value of the transaction is approximately USD 191 million. 

The definitive agreement was signed between Sembcorp’s wholly owned subsidiary, Sembcorp Green Infra Private Limited, and ReNew Private Limited for the acquisition of ReNew Sun Bright Private Limited (RSBPL), which owns the Jaisalmer solar plant.

The transaction is expected to close upon completion of customary conditions and will generate approximately USD 98 million in cash inflow for ReNew, subject to closing adjustments.

Long-Term PPA Ensures Stable Returns

The 300 MW solar project was commissioned in November 2021 and operates under a 25-year Power Purchase Agreement (PPA) with the Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL). The long-term PPA underlines the project’s revenue stability and operational viability, making it an attractive asset in India’s renewable investment ecosystem.

Operational solar assets with secure PPAs signed with state utilities such as MSEDCL continue to draw investor confidence, as they provide predictable cash flows and mitigate offtake risks. For Sembcorp Green, this is its third acquisition in the Indian renewables space in the last 36 months.

The company which commissioned India’s first Solar Energy Corporation of India (SECI) auction wind project in 2018, and the newest addition of 300 megawatt (MW) of operational solar power project takes its overall renewables portfolio to 6.9 gigawatts (GW) in India.

ReNew’s Expanding Clean Energy Portfolio

ReNew Energy currently holds a gross portfolio of approximately 18.2 GW across renewable technologies. 

The company is strengthening its presence in domestic manufacturing with 6.4 GW of solar module and 2.5 GW of solar cell production capacity. By 2026, ReNew aims to expand its solar cell manufacturing capacity by an additional 4 GW, aligning with India’s energy security and localisation ambitions.