Sembcorp Industries has completed the acquisition of a 300 MW solar power project in the Indian state of Rajasthan, further expanding its renewable energy footprint in the country.

The Singapore-based group said it has acquired a 100% stake in ReNew Sun Bright, the owner and operator of the Fatehgarh solar project, through its wholly owned subsidiary Sembcorp Green Infra. The transaction was valued at approximately SGD 246 million (about $191.6 million).

The Fatehgarh project achieved commercial operation in November 2021 and is connected to India’s national grid via the inter-state transmission system. Electricity generated by the facility is supplied under a 25-year power purchase agreement (PPA) with Maharashtra State Electricity Distribution Co. Ltd.

Following the acquisition, Sembcorp’s installed and under-development renewable energy capacity in India has exceeded 7.6 GW. Globally, the company’s renewables portfolio now stands at 20.2 GW, including projects pending completion.