Sembcorp bags 150 MW wind-solar hybrid project in India

Power generated will be sold to SECI.

Sembcorp Industries, through its wholly owned renewables subsidiary Sembcorp Green Infra Private Limited, has received the letter of award for a 150 megawatt (MW) Inter State Transmission System connected wind-solar hybrid power project from Solar Energy Corporation of India Ltd. (SECI).

In a bourse filing, Sembcorp said the build-own-operate project is part of a 600 MW bid issued by SECI. It will be funded through a mixture of internal funds and debt.

Energy produced from the plant will be sold to SECI under a 25-year power purchase agreement (PPA). The project is expected to start commercial operations in 24 months from the date of signing the PPA.

With this award, Sembcorp’s gross renewables portfolio in India stands at 4.9 gigawatts (GW), bringing its gross renewables capacity globally to 14.6 GW, including a 49 MW acquisition pending completion.

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