Chennai, November , 2017 – Sembcorp’s India’s renewable business has received the official letter of award for the 250-megawatt wind project it was awarded in the country’s second nationwide wind power auctions conducted by the Solar Energy Corporation of India (SECI) on behalf of Ministry of New and Renewable Energy (MNRE) on October 4, 2017. The project is expected to be developed in phases and targeted to be fully commissioned by the first half of 2019.
This makes Sembcorp the utility player which has won the largest combined capacity in India’s two national wind power tenders so far.
Upon the project’s completion, its entire power output will be sold to SECI under a 25-year long-term power purchase agreement. The project will be connected to India’s Central Transmission Utility and supply power to multiple states, helping them to meet their renewable energy requirement.
Vipul Tuli, CEO & Country Head of Sembcorp India, added, “This new renewable energy project is in line with Sembcorp’s strategy to make our energy business in the country stronger and more sustainable. It also reinforces our commitment to India, and to playing a role in powering the country’s continued progress.”
“We are pleased to have secured back-to-back wins in both national wind power tenders held to date. This demonstrates Sembcorp’s strong renewable energy capabilities”, said Sunil Gupta, Managing Director and CEO of Sembcorp Green Infra. “Greater transparency and offtake creditworthiness gives established long term players like Sembcorp an advantage. Combined with declining equipment prices, this has allowed us to provide clean power at lower tariffs.”
This new project will expand Sembcorp’s presence in India’s power market. The company has over 4,000 megawatts of power capacity in operation and under development in the country, comprising both thermal and renewable energy assets. In addition, the project also strengthens Sembcorp’s global renewable energy business, which it has been actively growing as part of a balanced portfolio. The company has wind, solar and biomass energy as well as energy-from-waste projects in Singapore, China, India and the UK.
About Sembcorp and its India energy business
Sembcorp Industries is a leading energy, water and marine group operating across five continents worldwide. With facilities of about 11,000 megawatts of gross power capacity and close to nine million cubic metres of water per day in operation and under development, Sembcorp is a trusted provider of essential energy and water solutions to both industrial and municipal customers. It is also a world leader in marine and offshore engineering as well as an established brand name in urban development.
In India, Sembcorp has a balanced portfolio of thermal and renewable assets with over 4,000 megawatts of power capacity in operation and under development in seven states. Sembcorp’s renewable energy portfolio in India, operated through Sembcorp Green Infra, consists of more than 1,400 megawatts of wind and solar power assets in seven states across the southern, western and central regions of India. Meanwhile, the 2,640-megawatt Sembcorp Gayatri Power Complex in Andhra Pradesh houses two supercritical thermal power plants of equal capacity: Thermal Powertech Corporation India and Sembcorp Gayatri Power.
The Sembcorp Industries Group has total assets of close to S$23 billion and around 8,000 employees. Listed on the main board of the Singapore Exchange, it is a component stock of the Straits Times Index and several MSCI and FTSE indices.
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