Sembcorp Industries’ subsidiary, Green Infra Wind Energy Ltd (GIWEL), has successfully obtained a 450MW wind-solar hybrid power project, as part of the Solar Energy Corporation of India’s (SECI) initiative to develop a 2GW Inter-State Transmission System (ISTS) network of hybrid power facilities across India. This project is to be executed on a build-own-operate basis, as per the company’s announcement.

GIWEL was awarded the project following their successful bid. This project, once operational, will supply power to SECI under a 25-year power purchase agreement. The completion and commencement of commercial operations are scheduled within 24 months from the signing of this agreement. The project financing will be managed through a combination of Sembcorp’s internal reserves and external debt.

This latest achievement increases Sembcorp’s renewable energy portfolio in India to a substantial 4.2GW. Globally, Sembcorp’s renewable capacity, including pending acquisitions, is now at an impressive 13.5GW. This project marks Sembcorp’s first foray into hybrid power projects in India and reinforces its position as a pioneer independent power producer in the country’s renewable sector.

Sembcorp Industries, renowned for its commitment to sustainable energy and urban development, manages a diversified 21.0GW energy portfolio, with 13.5GW derived from renewable sources. Besides its energy ventures, Sembcorp is an established urban developer with a significant footprint spanning over 14,000 hectares in Asia. The latest project win is not anticipated to significantly affect Sembcorp’s earnings per share or net tangible assets per share for the financial year concluding on December 31, 2024.

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