Sembcorp to acquire 428 MW wind assets in India, China
Sembcorp Industries on Monday said it has signed two separate agreements to acquire 428 MW of wind power assets in China and India for 200 million Singaporean dollar (about Rs 1,247 crore).
Sembcorp, backed by Temasek Holdings Pte, will acquire 228 MW of operational wind power assets of Leap Green Energy Pvt Ltd for 70 million Singaporean dollar and 200 MW of Qinzhou Yuanneng for 130 million Singaporean dollar, the company said in a statement.
With the latest acquisition, the company now has a balanced portfolio of 3.7 GW of renewable assets in India, comprising 2.25 GW of wind and 1.45 GW of solar assets.
Last year, the company acquired Vector Green, adding 583 MW of renewable assets to its portfolio.
«Sembcorp’s wholly-owned subsidiary, Sembcorp Energy (Shanghai) Holding Co., Ltd, has signed an agreement with Envision Energy Co., Ltd to acquire 100% of the share capital in Qinzhou Yuanneng Wind Power Co., Ltd, (Qinzhou Yuanneng) for an equity consideration of approximately S$130 million[1]. Qinzhou Yuanneng owns 200MW of operational wind assets in Guangxi, China,» the company said in a press statement, adding that separately, Sembcorp’s wholly-owned subsidiary, Green Infra Wind Energy Limited (GIWEL), has signed an agreement with Leap Green Energy Private Limited (Leap Green Energy), an independent power producer in Tamil Nadu, India.
«Under the agreement, GIWEL will acquire from Leap Green Energy, 100% of the share capital in two special purpose vehicles (SPVs) for an equity consideration of approximately S$70 million.
