Sembcorp Bags 300MW Hybrid Power Project from NTPC Limited
Sembcorp Industries, a leading energy and utilities company, has secured a significant contract from NTPC Limited. Through its subsidiary, Sembcorp Green Infra Private Limited, the company has been awarded a 300MW Inter-State Transmission System (ISTS) connected wind-solar hybrid power project.
Boost to Renewable Energy Portfolio
This project is a part of NTPC’s 1.2GW bid, and it will be implemented under a build-own-operate model. Sembcorp will execute the project and generate renewable power, which will be supplied to NTPC under a 25-year Power Purchase Agreement (PPA). Although the PPA is yet to be signed, the power generated from the project is expected to commence commercial operations within 24 months of its signing.
Fortifying Commitment to Green Energy
The 300MW hybrid power project will enable Sembcorp to increase its renewable energy footprint in India. The company has amassed close to 2GW in greenfield renewable energy projects in the country since November 2023. This achievement has propelled Sembcorp’s total gross renewable capacity in India to an impressive 5.4GW.
Global Expansion in Renewable Energy
Beyond India, Sembcorp’s dedication to addressing the world’s energy needs through sustainable means is evident by its growing renewable energy portfolio. Internationally, the company’s renewable energy assets total 16GW, a figure now bolstered by the pending completion of a 49MW wind farm acquisition. The ambition to shape a cleaner and greener future continues to create strategic opportunities for Sembcorp.
No Material Impact on Financial Outlook
Acknowledging the significance of the project award, Sembcorp highlighted that it does not anticipate any substantial impact on its earnings per share or net tangible assets per share for the financial year ending December 31, 2024. The company views this achievement as a continuation of its normal course of business.
Conclusion
Sembcorp Industries’ latest accomplishment in securing a 300MW hybrid power project from NTPC Limited reinforces its commitment to renewable energy and underscores its position as a global leader in this sector. This milestone contributes to the company’s ongoing efforts to provide sustainable solutions and meet the world’s growing energy demands. As Sembcorp’s renewable energy portfolio proudly expands to include more groundbreaking projects, it certainly signifies a brighter and greener future for both the company and the world at large.
