Singapore-based Sembcorp Industries, through its subsidiary Sembcorp Green Infra Private Ltd, said it has won a 150 MW wind-solar hybrid project. This is one of the biggest projects under a larger 600 MW bid by Solar Energy Corporation of India Ltd. (SECI).
SECI awarded the Letter of Award to the project, a build-own-operate initiative, which marked a significant stepping stone for Sembcorp in expanding its footprint in the renewable energy sectors in India. According to the company, the wind-solar hybrid power plant project will be connected into the interstate transmission system, which will make it easy to deliver the generated power to consumers efficiently.
On achieving the commissioning, the electricity sold will be sold under the long-term PPA to SECI for 25 years. This is based on the signing of the PPA and the successful execution of the project. Sembcorp expects the plant to be ready for commercial operation after 24 months from the signing of the PPA. The project shall be financed through a mix of internal funds and debt, thus respecting the principles of sustainable financing embraced by Sembcorp.
Sembcorp’s gross renewable portfolio in India stands at 4.9 GW with this latest development, furthering the company’s position in the renewable energy space. Its global consolidated total renewable capacity is 14.6 GW, including a pending acquisition of an additional 49 MW.
In announcing the details of the award, the company noted that this award is within the ordinary course of its business operations and will not have any material impact on its earnings per share or net tangible assets per share as of the financial year ending December 31, 2024. This strategic decision marks yet another step forward by Sembcorp toward sustainable energy solutions and continuous growth within the renewable sector—an important contributor to India’s green energy future.
