Sembcorp to buy 428 MW wind projects in China, India
This will raise its renewables capacity to 12.6 gigawatts upon completion.
Sembcorp Industries, through its subsidiaries, has signed separate deals to acquire a total of 428 megawatts (MW) of wind assets in China and India worth (S$200m) in total.
In a statement, Sembcorp unit Sembcorp Energy (Shanghai) Holding entered an agreement with Envision Energy to fully acquire the share capital in Qinzhou Yuanneng Wind Power Co., which owns 200 MW wind projects in Guangxi, for a consideration of around (S$130m).
Meanwhile, its subsidiary Green Infra Wind Energy Limited signed a deal with India-based independent power producer Leap Green Energy Private Limited, securing its shares in two special purpose vehicles for (S$70m).
The SPVs operate 228 MW operational wind asses in Madhya Pradesh, Maharashtra, and Rajasthan.
Overall, Sembcorp has acquired 673 MW of renewable capacity in line with its target to achieve 25 gigawatts of capacity by 2028.