Sembcorp unit wins solar energy project to supply power in India
[SINGAPORE] Sembcorp Industries' wholly owned renewables subsidiary, Sembcorp Green Infra, was awarded a build-own-operate solar energy storage hybrid project by SJVN, an Indian state-owned power company.
Sembcorp Green Infra will supply solar power and support peak electricity demand for four hours a day through a 300 megawatt-hour battery energy storage system (Bess) once the project is complete, the group said on Thursday (May 29).
This is subject to the execution of a 25-year power purchase agreement (PPA) with SJVN.
Commercial operations for the project are expected to start within 24 months from the date the PPA is signed, the group noted.
The project has a contracted capacity of 150 megawatts (MW) and 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.
It will be funded through a blend of internal funds and debt, Sembcorp said.
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The award of the project is not expected to have a material impact on the group's earnings per share and net tangible assets per share for the financial year ending December 2025, it added.
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.
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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