Bid & Tender

News

Sembcorp in Talks to Acquire Green Energy Projects of ReNew Energy

Singapore-based firm Sembcorp Industries is in talks to acquire green energy projects totaling 1.1 GW capacity from ReNew Energy Global. The transaction is estimated at USD 1.2 billion, and is valued at around USD 450 million in terms of equity.

 

Ahmedabad-based Torrent Power had submitted a non-binding offer for the same projects comprising solar and wind power assets of 350 MW and 750 MW, respectively.

 

Sembcorp and Torrent Power had been in the fray to acquire India Infrastructure Fund II, which is owned by US’s Global Infrastructure Partners to buy out Vector Green Energy. Sembcorp Green Infra eventually acquired the entity.

 

Sembcorp has an energy portfolio of 18.5 GW, of which 11 GW is renewable energy projects, including wind, solar, and energy storage. Of this, its installed and under-development renewables portfolio in India is at 3 GW, including 1 GW of solar assets and 2 GW of wind assets.

BACK

Related News