Discover the sensational news as Sembcorp Industries Ltd makes waves with its latest acquisitions in the renewable energy sector. Dive into the details of their game-changing moves, including snagging major wind farm deals in India and Guangxi.
Singapore’s Sembcorp Industries Ltd (SGX: U96) has just finalized the purchase of two Indian companies holding rights to 228 MW of wind farms in India.
These companies were acquired by Sembcorp’s subsidiary, Green Infra Wind Energy Ltd, as stated in a filing to the stock exchange. Leap Green Energy Pvt Ltd, an independent power producer based in Tamil Nadu, agreed to sell the entire share capital of these special purpose vehicles (SPVs) last November for about SGD 70 million (approximately USD 51.9 million or EUR 48.4 million).
The acquired assets include wind fields located in Madhya Pradesh, Maharashtra, and Rajasthan. This additional capacity will be integrated into Sembcorp’s global renewables portfolio, which currently stands at 13.5 GW gross, with a pending acquisition of 245 MW.
In addition to the Indian wind fields, Sembcorp is also acquiring 100% of the share capital in a company owning 200 MW of wind farms in the Guangxi region. The deal with Envision Energy Co Ltd, also finalized in November 2023, is valued at approximately SGD 130 million (approximately USD 96.7 million).
Bhaarat Bulletin’s Shikha Rai, Bimal Dev, and Sembcorp Industries have contributed to the above report
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