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Sembcorp Industries, through its wholly-owned renewables subsidiary Green Infra Wind Energy Limited (GIWEL), has received the letter of award (LOA) for a 440-megawatt (MW) inter-state transmission system (ISTS) connected wind-solar hybrid power project from SJVN.
The build-own-operate project is part of a 1.5-gigawatt (GW) bid issued by SJVN in September 2023, the company said.
Subject to the execution of a power purchase agreement (PPA) and upon completion of the project, power output will be sold to SJVN under a 25-year PPA, it added.
The project is expected to be ready for commercial operation within 24 months from the PPA and will be funded through a mixture of internal funds and debt.
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Since its Investor Day in November 2023, Sembcorp has announced over 1.4 GW of greenfield and brownfield projects awarded and acquired in India. With this latest award, Sembcorp’s gross renewables capacity globally is at 14.3 GW, including a 245 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 the financial year ending December 31, 2024.
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