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

On October 8, 2025, ReNew Energy Global Plc, India’s decarbonization solutions company, 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.

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.

Following the Government of India’s decision to reduce the Goods and Services Tax (GST) on renewable energy equipment from 12 percent to 5 percent, effective September 22, 2025, ReNew recently announced a corresponding price reduction in its solar modules and cells.