Sembcorp Industries, through its wholly-owned renewables subsidiary Sembcorp Green Infra Private Limited (SGIPL), has received the Letter of Award for a 150 MW solar photovoltaic project coupled with a Battery Energy Storage System (BESS) of 300 MWh (the Project) from Solar Energy Corporation of India Ltd. (SECI). The build-own-operate Project is part of a bid for 2 GW inter-state transmission system (ISTS)-connected solar power projects with 4 GWh of BESS, issued by SECI.
Subject to the execution of a power purchase agreement (PPA) and upon completion of the Project, the BESS will provide on-demand power to support daily peak electricity for four hours, over a 25-year period. 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.
This is Sembcorp’s first solar and BESS hybrid project in India, which brings the gross renewables capacity in India to almost 6 GW, including over 2 GW of greenfield projects won in 2024. This brings Sembcorp’s global renewables capacity to 16.5 GW, including a 49 MW acquisition pending completion.
The award of the Project is in the ordinary course of business and will not have a material impact on the earnings per share and net tangible assets per share of Sembcorp for the financial year ending December 31, 2024.
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