New Delhi: Sembcorp Industries Announced on Monday that it has signed two separate agreements to acquire 428 MW wind energy assets In China and India for 200 million Singapore dollars (about Rs 1,247 crore). The Singapore energy company, backed by state-owned investor Temasek Holdings Pte, will acquire Leap’s 228 MW of operational wind power assets. green energy Pte Ltd for S$70 million and 200-MW Qianzhou Yuanneng for S$130 million, the company said in a statement.
Sembcorp has been operating in India for over 12 years with a presence in 18 states. With this acquisition, the company now has a balanced portfolio of 3.7 GW of renewable assets, including 2.25 GW of wind and 1.45 GW of solar assets. Last year, it had announced the acquisition of Vector Green to add 583 MW of renewable assets in India.
“Sembcorp’s wholly owned subsidiary, Sembcorp Energy (Shanghai) Holding Co., Ltd. has entered into an agreement with Envision Energy Co., Ltd. to acquire 100 percent of the share capital of Qianzhou Yuanneng Wind Power Co., Ltd. (Qinzhou Yuanneng) for equity consideration of approximately “S$130 million. Qianzhou Yuanneng has 200MW of operational wind assets in Guangxi, China,” the statement said.
Separately, its “wholly owned subsidiary, Green Infra Wind Energy Limited (GIWEL), has signed an agreement with Leap Green Energy Pvt. Ltd. (Leap Green Energy), an independent power producer in Tamil Nadu, India. Agreement Under the MoU, GIWEL will acquire 100 per cent share capital in two special purpose vehicles (SPVs) from Leap Green Energy for an equity consideration of approximately SGD 70 million. The SPVs have 228MW operational wind assets in Madhya Pradesh, Maharashtra and Rajasthan in India. ” It said.
Sembcorp has signed agreements to secure 673MW of renewable energy capacity since announcing its target to achieve 25GW gross installed renewable capacity in 2028.
This includes the proposed acquisition of 245MW of renewable assets in Vietnam, announced on November 10, 2023. Upon completion of these acquisitions, Sembcorp’s gross renewable capacity will reach 12.6 GW globally.
“The acquisition will be funded through a mix of internal cash resources and external funding, and is expected to be completed by the first half of 2024, subject to the satisfaction of conditions applicable in each case, including regulatory approvals,” the statement said. Is.” The buyouts were announced on Monday.
It said these acquisitions are in the normal course of business and will not have a material impact on Sembcorp’s earnings per share and net tangible assets per share for the financial year ending December 31, 2023.
Sembcorp is a leading energy and urban solutions provider with a balanced energy portfolio of 20.1GW with 12.6GW of gross energy. Renewable energy Solar, wind and energy storage capacity globally. The company also has a proven track record of transforming raw land into sustainable urban development, with a project portfolio of over 14,000 hectares across Asia.
Sembcorp is listed on the Main Board of the Singapore Exchange.
Sembcorp has been operating in India for over 12 years with a presence in 18 states. With this acquisition, the company now has a balanced portfolio of 3.7 GW of renewable assets, including 2.25 GW of wind and 1.45 GW of solar assets. Last year, it had announced the acquisition of Vector Green to add 583 MW of renewable assets in India.
“Sembcorp’s wholly owned subsidiary, Sembcorp Energy (Shanghai) Holding Co., Ltd. has entered into an agreement with Envision Energy Co., Ltd. to acquire 100 percent of the share capital of Qianzhou Yuanneng Wind Power Co., Ltd. (Qinzhou Yuanneng) for equity consideration of approximately “S$130 million. Qianzhou Yuanneng has 200MW of operational wind assets in Guangxi, China,” the statement said.
Separately, its “wholly owned subsidiary, Green Infra Wind Energy Limited (GIWEL), has signed an agreement with Leap Green Energy Pvt. Ltd. (Leap Green Energy), an independent power producer in Tamil Nadu, India. Agreement Under the MoU, GIWEL will acquire 100 per cent share capital in two special purpose vehicles (SPVs) from Leap Green Energy for an equity consideration of approximately SGD 70 million. The SPVs have 228MW operational wind assets in Madhya Pradesh, Maharashtra and Rajasthan in India. ” It said.
Sembcorp has signed agreements to secure 673MW of renewable energy capacity since announcing its target to achieve 25GW gross installed renewable capacity in 2028.
This includes the proposed acquisition of 245MW of renewable assets in Vietnam, announced on November 10, 2023. Upon completion of these acquisitions, Sembcorp’s gross renewable capacity will reach 12.6 GW globally.
“The acquisition will be funded through a mix of internal cash resources and external funding, and is expected to be completed by the first half of 2024, subject to the satisfaction of conditions applicable in each case, including regulatory approvals,” the statement said. Is.” The buyouts were announced on Monday.
It said these acquisitions are in the normal course of business and will not have a material impact on Sembcorp’s earnings per share and net tangible assets per share for the financial year ending December 31, 2023.
Sembcorp is a leading energy and urban solutions provider with a balanced energy portfolio of 20.1GW with 12.6GW of gross energy. Renewable energy Solar, wind and energy storage capacity globally. The company also has a proven track record of transforming raw land into sustainable urban development, with a project portfolio of over 14,000 hectares across Asia.
Sembcorp is listed on the Main Board of the Singapore Exchange.
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