en.Wedoany.com Report on Mar 26th, ReNew Energy Global Plc (ReNew) has entered into an agreement with the Technique Solaire Group to sell a 100 MW solar project in Tamil Nadu, India, for an enterprise value of $49 million. The company disclosed details of the transaction in a filing with the U.S. Securities and Exchange Commission (SEC).

In its filing, ReNew stated that it executed a definitive agreement on March 23, 2026, with JLT Energy 9, the wholly-owned investment arm of France's JLT Invest focused on the Indian market. The agreement involves the sale of ReNew Solar Energy (Rajasthan) Private Limited (RSERPL). The transaction is expected to be completed upon satisfaction of customary conditions and is anticipated to generate approximately $24 million in cash proceeds for ReNew, subject to customary closing adjustments.

The solar project commenced commercial operations in September 2019 and has a 25-year power purchase agreement with the Tamil Nadu Generation and Distribution Corporation (TANGEDCO) at a fixed tariff of ₹3.47 per unit. Having been operational for over six years, the asset recorded a net plant load factor of 18.55% in the fiscal year 2024-25.

ReNew's asset divestment is part of its capital recycling strategy, through which the company has sold several operational solar projects to infrastructure investors and global utilities. This strategy aims to free up capital for reinvestment into higher-return areas such as hybrid renewable energy and energy storage.

Previously, on October 8, 2025, ReNew sold a 300 MW solar project in Jaisalmer, Rajasthan, to Sembcorp Industries for an enterprise value of approximately $191 million. In 2024, the company also divested another 300 MW solar project in Rajasthan, ReNew Solar Urja Private Limited, for a total enterprise value of $199 million, executing a share purchase agreement with India Grid Trust.