Singapore: Sembcorp Industries (Sembcorp), through its wholly-owned renewables subsidiary Sembcorp Green Infra Private Limited, has received the Letter of Award (LOA) for a 300MW Inter State Transmission System (ISTS) connected wind-solar hybrid power project from NTPC Ltd. The build-own-operate project is part of a 1.2 GW bid issued by NTPC.
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 NTPC 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.
With a secured capacity of close to 2 GW from greenfield projects won since November 2023, Sembcorp’s gross renewables capacity in India now stands at 5.4 GW. This brings Sembcorp’s global renewables capacity to 16 GW, including a 49 MW 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
this financial year.