ReNew Energy Global Plc has signed an agreement to sell its 300 MW solar power project in Jaisalmer, Rajasthan, to Sembcorp Industries.
The enterprise value of the transaction is approximately USD191 million. The agreement was executed between Sembcorp Green Infra Private Limited and ReNew Private Limited for the acquisition of ReNew Sun Bright Private Limited, which owns the solar project. The transaction is expected to generate a cash inflow of around USD98 million for ReNew, subject to closing adjustments.