For one, in India, solar plant load factors declined in the first four months of the year, likely due to low resource availability and ongoing capacity additions. On the other hand, China continued to see elevated renewable energy curtailment.
Lim Siew Khee and Meghana Kande of CGS International have trimmed their target price for Sembcorp Industries to $7.15 from $7.68, on expectations that the coming 1HFY2026 earnings will be softer.
Specifically, Sembcorp will likely report lower renewable energy performance in two of its key markets of India and China.
