– Addition of over 1.4GW of greenfield and brownfield projects in India since Sembcorp’s Investor Day 2023
Singapore : Sembcorp Industries (Sembcorp), through its wholly owned renewables subsidiary Green Infra Wind Energy Limited (GIWEL), has received the Letter of Award (LOA) for a 440MW Inter State Transmission System (ISTS) connected wind-solar hybrid power project (the Project) from SJVN Limited (SJVN). The build-own-operate Project is part of a 1.5GW bid issued by SJVN in September 2023.
Subject to the execution of a power purchase agreement (PPA) and upon completion of the Project, power output from the Project will be sold to SJVN under a 25-year long-term PPA. The Project is expected to be ready for commercial operation within 24 months from the date of signing the PPA and will be funded through a mixture of internal funds and debt. Since its Investor Day 2023 held in November 2023, Sembcorp has announced over1.4GW of greenfield and brownfield projects awarded and acquired in India. Including this latest award, Sembcorp’s gross renewables capacity globally is now at 14.3GW, including a 245MW acquisition pending completion.
The award of the Project is in the ordinary course of business and is not expected to have a material impact on the earnings per share and net tangible assets per share of Sembcorp for the financial year ending December 31, 2024.
ABOUT SEMBCORP INDUSTRIES
Sembcorp Industries (Sembcorp) is a leading energy and urban solutions provider, driven by its purpose to play its part in driving energy transition towards a low-carbon future responsibly.
Headquartered in Singapore, Sembcorp leverages its sector expertise and global track record to deliver innovative solutions that support the energy transition and sustainable development.
Sembcorp has a balanced energy portfolio of 21.8GW, with 14.3GW of gross renewable energy capacity globally*. The company is also an urban developer with a portfolio spanning over 14,000 hectares across Asia and has a proven track record of transforming raw land into urban developments.
Sembcorp is listed on the main board of the Singapore Exchange. It is a constituent stock of FTSE Russell Index, MSCI Singapore Index, Straits Times Index as well as sustainability indices including FTSE4Good Index, iEdge SG ESG indices and several MSCI ESG indices.
* Total gross capacity assumes 100% ownership of assets, including projects secured and under construction, and an acquisition pending completion.
