Sembcorp Industries (Sembcorp), through its whollyowned renewables subsidiary Green Infra Wind Energy Limited (GIWEL), has
received the Letter of Award (LOA) for a 440MW Inter State Transmission System
(ISTS) connected wind-solar hybrid power project (the Project) from SJVN Limited
(SJVN). The build-own-operate Project is part of a 1.5GW bid issued by SJVN in
September 2023.
Subject to the execution of a power purchase agreement (PPA) and upon completion
of the Project, power output from the Project will be sold to SJVN under a 25-year
long-term PPA. 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.
Since its Investor Day 2023 held in November 2023, Sembcorp has announced over
1.4GW of greenfield and brownfield projects awarded and acquired in India. Including
this latest award, Sembcorp’s gross renewables capacity globally is now at 14.3GW,
including a 245MW acquisition pending completion.
The award of the Project is in the ordinary course of business and is not expected to
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.
