ReNew Energy Global plc has announced the sale of its 100 MW (117.5 MWp) solar project in Tamil Nadu to France-based Technique Solaire Group for an enterprise value of approximately $49 million.
The definitive agreement was signed between ReNew Solar Power and JLT Energy 9, the India-focused investment arm of JLT Invest. The transaction is subject to customary closing conditions and is expected to generate around $24 million in cash inflow for ReNew.
The project, commissioned in September 2019, operates under a 25-year Power Purchase Agreement (PPA) with Tamil Nadu Generation and Distribution Corporation at a fixed tariff of approximately ₹3.47 per unit.
This solar asset is ReNew’s only operational project in Tamil Nadu and has been generating stable revenues for over six years. In FY 2024–25, the plant recorded a net plant load factor (PLF) of around 18.55%, indicating consistent performance.
The divestment aligns with ReNew’s broader capital recycling and portfolio optimization strategy, enabling the company to unlock value from mature assets and reinvest in high-growth segments such as hybrid renewable projects, energy storage, and large-scale clean energy developments.
With this move, ReNew continues to strengthen its balance sheet while strategically reallocating capital to support its long-term expansion in India’s rapidly evolving renewable energy landscape.
