Sembcorp bags 300-MW wind-solar hybrid project in India

Output will be sold to NTPC for 25 years.

Sembcorp Industries (Sembcorp), through its wholly owned renewables subsidiary Sembcorp Green Infra Private Limited, has been awarded a 300-megawatt (MW) Inter State Transmission System connected wind-solar hybrid power project in India.

In a bourse filing, Sembcorp said the build-down operate project is part of a 1.2 gigawatt (GW) bid issued by NTPC Ltd.

Power produced from the project will be sold to NTPC under a 25-year power purchase agreement (PPA) subject to the execution of the deal and upon completion of the facility.

The project is expected to be ready for commercial operation within 24 months from the date of signing the PPA and will be funded through a mixture of internal funds and debt.

Sembcorp's Indian renewable energy capacity has surged to 5.4 GW, thanks to recent project wins totaling nearly 2 GW. This brings its global renewable energy capacity to 16 GW, including a 49 MW acquisition pending completion.

This latest transaction is not expected to have a material impact on the earnings per share and net tangible assets per share of Sembcorp for the financial year ending 31 December 2024.