Green Infra Wind Energy, a subsidiary of Sembcorp Industries, has secured a 450MW wind-solar hybrid power project from the SECI. According to a company announcement, this build-own-operate initiative is included in a 2GW tender released by SECI for the establishment of Inter-State Transmission System (ISTS)-linked wind-solar hybrid power projects across India.
Sembcorp Industries is one of the leading energy and urban solutions provider. The company boasts a well-balanced energy portfolio, totaling 21.0 GW, with a substantial 13.5 GW attributed to gross renewable energy capacity globally.
Beyond its energy pursuits, Sembcorp also distinguishes itself as an urban developer, managing an extensive portfolio of over 14,000 hectares across Asia and showcasing a track record in transforming raw land into thriving urban developments.
Sembcorp Industries, via its wholly owned renewables subsidiary Green Infra Wind Energy Ltd (GIWEL), has been granted a letter of award for a 450MW ISTS-connected wind-solar hybrid power project by the Solar Energy Corporation of India (SECI).
The forthcoming facility, upon completion, will supply its generated power to SECI through a 25-year long-term power purchase agreement. The anticipated timeline for the commercial operation readiness of the project is set at 24 months post the signing of the power purchase agreement. Funding for this venture will be derived from a combination of internal funds and debt.
With this recent accolade, Sembcorp’s cumulative renewables portfolio in India ascends to an impressive 4.2 GW. This achievement propels Sembcorp’s gross renewables capacity on a global scale to 13.5 GW, encompassing 473MW of acquisitions pending finalization.
It is crucial to note that the acquisition of this project aligns with Sembcorp’s regular business activities and is not anticipated to exert an impact on the earnings per share and net tangible assets per share of Sembcorp for the fiscal year concluding on December 31, 2024.
