Sembcorp unit wins solar energy project to supply 150 MW of power in India
[SINGAPORE] Sembcorp Industries' wholly owned renewables subsidiary, Sembcorp Green Infra, was awarded a solar energy storage hybrid project by SJVN, an Indian state-owned power company.
Sembcorp Green Infra will develop, own and operate the project and supply 150 megawatts (MW) of solar power to SJVN over a 25-year period, subject to the execution of a power purchase agreement (PPA) to be signed with the Indian power company.
It will supply solar power for four hours daily, through a 300 megawatt-hour (MWh) battery energy storage system (Bess), to support peak electricity demand once the project is completed, the group said on Thursday (May 29).
Commercial operations for the project are expected to start within 24 months from the date the PPA is signed, the group noted.
The project is part of SJVN's 1.2 gigawatt (GW) tender for the Inter State Transmission system-connected solar projects with 600 MW/ 2.4 GWh of Bess capacity.
As one of four renewable energy implementing agencies in India, SJVN issues tenders for renewable energy companies in the country to bid for and build capacity for sale to the grid, Sembcorp said.
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The project will be funded through a blend of internal funds and debt.
It 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 December 2025, the group said.
As Sembcorp's second solar energy storage hybrid project in India, the project raises the group's gross renewables capacity in the country to 6.3 GW. Globally, the group's total renewables portfolio stands at 17.7 GW, including acquisitions pending completion.
It comes on the back of the group's first solar and Bess hybrid project in India, involving a 150 MW solar photovoltaic project with a 300 MWh Bess, announced in December 2024.
Then, Sembcorp Green Infra was awarded a build-own-operate project by Indian public sector company, Solar Energy Corporation of India, to supply on-demand power to support four hours of peak electricity daily over a 25-year period.
The counter ended on Wednesday 1 per cent or S$0.07 lower at S$6.64.
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