The build-own-operate project is part of a 600MW tender released by SECI. Credit: bombermoon / Shutterstock.

Singapore-based company Sembcorp Industries, through its subsidiary Sembcorp Green Infra, has secured a letter of award for a 150MW inter-state transmission system-linked wind-solar hybrid power project.

The build-own-operate project was awarded by the Solar Energy Corporation of India (SECI). It forms part of a 600MW tender that SECI had issued.

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Following the execution of a power purchase agreement (PPA), the clean energy generated by the renewable asset will be sold to SECI for 25 years.

The project will be commercially operational within two years from the signing of the PPA and will be financed through a mix of internal funds and debt.

The new project increases Sembcorp’s total renewable energy portfolio in India to 4.9GW. Globally, Sembcorp’s gross renewables capacity will reach 14.6GW, including a 49MW acquisition currently pending completion.

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The award of this project is part of Sembcorp’s regular business operations and is not expected to significantly affect the company’s earnings per share or net tangible assets per share for the financial year ending 31 December 2024.

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In a related development in September 2024, Sembcorp Utilities, another subsidiary of Sembcorp Industries, signed a sale and purchase agreement with ENGIE Global Developments.

This agreement involves the acquisition of a 30% stake in Senoko Energy, which is held by ENGIE’s wholly-owned subsidiary TWMB Holdings.

The acquisition is subject to regulatory approvals from the Energy Market Authority of Singapore and the pre-emption rights of other Senoko shareholders.

 Senoko Energy is a key electricity supplier in Singapore, playing a vital role in meeting demand from essential industries.

In December 2023, Sembcorp secured a contract from Indian utilities company NHPC, a government-operated hydropower producer in India, to construct a 300MW solar power project.

The letter of award was granted to Sembcorp’s fully owned renewable energy subsidiary, Green Infra Wind Energy Limited.