Sembcorp Industries secures a 450 megawatt hybrid solar-wind power plant

Sembcorp Industries secures a 450 megawatt hybrid solar-wind power plant

Sembcorp Industries secures a 450 megawatt hybrid solar-wind power plant

According to a business statement, the build-own-operate project is a component of the 2GW proposal that SECI released to create wind-solar hybrid power plants linked to the Inter State Transmission System (ISTS) throughout India.

Sembcorp Industries secures a 450 megawatt hybrid solar-wind power plant.

Solar Energy Corporation of India has awarded a 450MW wind-solar hybrid power project to Sembcorp Industries' subsidiary Green Infra Wind Energy (SECI).

According to a business statement, the build-own-operate project is a component of the 2GW proposal that SECI released to create wind-solar hybrid power plants linked to the Inter State Transmission System (ISTS) throughout India.

According to the release, Sembcorp Industries has obtained a letter of award from SECI for a 450 MW ISTS-connected wind-solar hybrid power project via its fully owned renewable subsidiary Green Infra Wind Energy Limited (GIWEL).

After the project is finished, SECI will acquire the electricity generated by it under a 25-year long-term power purchase agreement.

The project, which will be financed by a combination of loans and internal money, is anticipated to be ready for commercial operation within 24 months after the power purchase agreement's signature.

Sembcorp's total renewable portfolio in India now stands at 4.2GW thanks to this award.

With 473MW of pending purchases, Sembcorp's gross renewable capacity now stands at 13.5GW worldwide.

It is not anticipated that the project award, which occurred in the regular course of business, would materially affect Sembcorp's net tangible assets per share or profits per share for the fiscal year that ends on December 31, 2024.

Sembcorp's first hybrid project in India will be this one. The first independent power producer to finish SECI wind projects in India is Sembcorp.

Leading supplier of energy and urban solutions, Sembcorp Industries is committed to helping sustainably accelerate the energy transition to a low-carbon future. Sembcorp has 13.5GW of gross renewable energy capacity internationally, making up a balanced energy portfolio of 21.0GW.

With a portfolio of more than 14,000 hectares across Asia, the firm is also an urban developer with experience turning undeveloped land into developed areas.