Sembcorp industries bags 150 MW wind-solar hybrid project by subsidiary – EQ

In Short : Sembcorp Industries has secured a 150 MW wind-solar hybrid project through its subsidiary. This project aims to enhance renewable energy generation by combining wind and solar power, promoting sustainability and energy efficiency. It reflects Sembcorp’s commitment to expanding its renewable portfolio and supporting the transition to cleaner energy sources.

In Detail : Singapore-based Sembcorp Industries on Thursday said it has secured a 150 MW wind-solar hybrid project through its arm Sembcorp Green Infra Private Ltd.

The build-own-operate project is part of a 600 MW bid issued by SECI.

Sembcorp Industries (Sembcorp), through its wholly-owned renewables subsidiary Sembcorp Green Infra Private Ltd, has received the Letter of Award (LOA) for a 150MW Inter State Transmission System (ISTS) connected wind-solar hybrid power project (the Project) from Solar Energy Corporation of India Ltd (SECI), according to a company statement.

The power generated from this project will be sold to SECI under a long-term power purchase agreement (PPA) lasting 25 years. This is, however, subject to the execution of the PPA and upon completion of the project, the statement said.

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.

With this award, Sembcorp’s gross renewables portfolio in India stands at 4.9GW.

This brings Sembcorp’s gross renewables capacity globally to 14.6GW, including a 49MW 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, it stated.