ReNew Energy Global has agreed to sell its 100 MW solar project in Tamil Nadu to France-based independent power producer Technique Solaire Group for approximately $49 million.

The agreement was signed on March 23, 2026, between ReNew Solar Power and JLT Energy 9, the India-focused investment arm and wholly owned subsidiary of JLT Invest, France, for the sale of ReNew Solar Energy (Rajasthan), a special purpose vehicle of ReNew, which developed the project in Tamil Nadu.

JLT Invest is the holding company of Technique Solaire.

The transaction is subject to regulatory conditions and is expected to generate around $24 million in cash 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 set tariff of ₹3.47 (~$0.036)/kWh.

ReNew’s only operational asset in Tamil Nadu has generated revenue for over six years. In FY 2024-25, the project reported a net plant load factor of 18.55%.

In 2023, Technique Solaire Group acquired five solar power projects in Karnataka from ReNew Solar Power, with a combined capacity of 135.4 MW. The projects commissioned between October and November 2019 had secure tariffs owing to long-term PPAs with electricity and gas distribution companies in Karnataka.

ReNew’s clean energy portfolio stands at 19.2 GW, with the company produced 22,185 GWh of clean energy in the financial year 2025. The company also has 6.5 GW of solar module and 2.5 GW of solar cell manufacturing capacity and is expanding its solar cell manufacturing by 4 GW.

Recently, a consortium of three investors led by LeapFrog Investments, Emerging Market Climate Action Fund, and Carlyle AlpInvest picked up a combined stake of approximately 11.3% in ReNew Green Energy Solutions, the commercial and industrial platform of ReNew Energy Global.

Last November, ReNew announced plans to invest approximately ₹600 billion (~$6.76 billion) to set up multiple green energy projects in Andhra Pradesh, including a 6 GW solar ingot-wafer manufacturing plant, a 2 GW pumped hydro project, a 3,000 kilotons-per-annum green ammonia facility, and 5 GW of hybrid renewable energy projects, comprising wind, solar, and solar plus battery storage.