Win ups Sembcorp Industries’ renewables portfolio to over 3.5GW in operation and under development
Sembcorp Industries announces it has been formally awarded a 180MW wind power project in India, in the recent 11th nationwide wind power auction held by the Solar Energy Corporation of India (SECI).
The Group’s wholly owned renewables subsidiary in India, Green Infra Wind Energy Limited, has received the letter of award from SECI to develop the project, proposed to be situated in the state of Karnataka in southwest India. Upon completion of the project, its power output will be sold to SECI under a 25-year long-term power purchase agreement.
Sembcorp is making positive strides in one of the world’s largest renewable energy markets. With this award, its total capacity of installed and under construction renewable energy capacity in India is now more than 2.3GW.
Wong Kim Yin, Group President & CEO, Sembcorp Industries said: “Winning the 180MW SECI wind power project is an endorsement of our competitiveness and capabilities in renewable energy. This project moves us closer towards our brown to green transformation, as we target a focused growth in our renewables portfolio.”
Sembcorp aims to actively grow its renewable energy offering to be a leading provider of sustainable solutions. With this win, Sembcorp now has a renewables portfolio of more than 3.5GW in operation and under development across Singapore, China, India, Vietnam and the UK, as it progresses towards its 2025 target of 10GW of gross installed renewable energy capacity.
The award of the wind project is not expected to have a material impact on the earnings per share and net asset value per share of Sembcorp Industries for the financial year ending December 31, 2021.