Sembcorp Industries, through its wholly-owned renewables subsidiary Green Infra Wind Energy Limited (GIWEL), has received the letter of award (LOA) for a 300MW inter state transmission system connected solar power project from NHPC Limited, bringing its gross renewables portfolio in India to 3.7GW.
The build-own-operate project is part of a 3GW bid issued by NHPC, an enterprise of the government of India and is a premier organisation for the development of hydropower, earlier this year.
In the LOA, NHPC has accepted GIWEL’s final offer and has committed to purchasing power from the project. Upon the project’s completion, its power output will be sold to NHPC under a 25-year long-term power purchase agreement.
The project is expected to be ready for commercial operation in 2026, and will be funded through a mixture of internal funds and debt.
As at 9.05am, shares in Sembcorp are trading 6 cents higher or 1.17% up at $5.17.
