Sembcorp Industries, based in Singapore, announced on Thursday that it has won a 150 MW wind-solar hybrid project through its subsidiary, Sembcorp Green Infra Private Ltd. This build-own-operate initiative is part of a larger 600 MW bidding process conducted by the Solar Energy Corporation of India (SECI).
Sembcorp received the Letter of Award (LOA) for this Inter State Transmission System (ISTS) connected project from SECI, as stated in a company announcement. The electricity generated will be sold to SECI under a long-term power purchase agreement (PPA) for a duration of 25 years, pending the PPA execution and project completion.
The project is expected to begin commercial operations within 24 months after the PPA is signed and will be financed through a combination of internal funds and debt. With this new project, Sembcorp’s total renewable energy portfolio in India reaches 4.9 GW. This addition brings Sembcorp’s total global renewable capacity to 14.6 GW, which includes a pending acquisition of 49 MW.
According to the company, this project award is part of its regular business activities and is not anticipated to significantly affect earnings per share or net tangible assets per share for the financial year ending December 31, 2024.
The company is a leading energy and urban development company headquartered in Singapore, with a global presence spanning multiple markets. The company specializes in providing sustainable energy solutions, including renewable energy like wind, solar, and energy-from-waste, along with conventional power generation.
Sembcorp is committed to transitioning to a low-carbon future, playing a crucial role in addressing global energy challenges. It also focuses on urban development, creating sustainable, integrated urban spaces. With a strong emphasis on innovation and sustainability, Sembcorp Industries is a key player in shaping a greener future and supporting the global energy transition.
