Wind Power

19 Feb 2024

Sembcorp Closes 228-MW Wind Farm Purchase in India

19 Feb 2024  by renewablesnow   
Singapore’s Sembcorp Industries Ltd (SGX:U96) has wrapped up the acquisition of a duo of Indian companies holding the rights to 228 MW of wind farms in the South Asian country.

The special purpose vehicles were purchased by Sembcorp’s subsidiary Green Infra Wind Energy Ltd, the parent company said in a bourse filing. Tamil Nadu-based independent power producer Leap Green Energy Pvt Ltd agreed to sell the SPVs’ entire share capital last November for an equity consideration of approximately SGD 70 million (USD 51.9m/EUR 48.4m).

The bundle of acquired assets includes wind farms in Madhya Pradesh, Maharashtra and Rajasthan. The capacity will be added to Sembcorp’s global renewables portfolio, which totals 13.5 GW gross and includes a 245-MW acquisition pending completion.

Along with the Indian wind farms, Sembcorp is buying 100% of the share capital in a company that owns 200 MW of wind farms in the Guangxi region. The deal with Envision Energy Co Ltd, also agreed in November 2023, is valued at around SGD 130 million.


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