Sembcorp Industries on Wednesday said it has acquired a 300 MW wind-solar hybrid project through its arm Sembcorp Green Infra. NTPC The limited construction self-powered project is part of the 1.2GW bid issued by NTPC, a state-owned power company, a company statement said.
Sembcorp Industries (Sembcorp), through its wholly-owned renewables subsidiary Sembcorp Green Infra Pvt Ltd, has awarded a Letter of Award for a 300MW Interstate Transmission System (ISTS)-connected Wind Solar Hybrid Power Project (The Project). LOA) has been received. from NTPC Ltd., according to the statement.
Subject to execution of one Power Purchase Agreement (PPA) and on completion of the project, the power generation from the project will be sold to NTPC under a 25-year long-term PPA.
The company informed that the project will be ready for commercial operation within 24 months from the date of signing the PPA and will be funded through a mix of internal funds and debt.
With close to 2GW of secured capacity from greenfield projects acquired from November 2023, Sembcorp’s total renewable energy capacity in India now stands at 5.4GW.
This brings Sembcorp’s global renewable energy capacity to 16GW, including a 49MW acquisition pending completion.
It said the project award is in the ordinary course of business and is not expected to have a material impact on Sembcorp Industries’ earnings per share and net tangible assets for the financial year ending December 31, 2024.