SINGAPORE (Aug 31): Sembcorp Industries announced that its wholly-owned subsidiary, Sembcorp Utilities is acquiring IDFC Private Equity Fund III’s remaining stake in Sembcorp Green Infra (SGI) for INR1410.2 crores ($301 million), making Sembcorp the sole owner of SGI.

SGI is a renewable energy provider that is present across seven states in India, with close to 1,200 megawatts of wind and solar power capacity in operation and under development.

Sembcorp Utilities has acquired the remaining shares in SGI from IDFC under its contractual rights. The consideration was agreed based on comparable market valuations and an assessment of SGI’s assets and business prospects.

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