Sembcorp Receives LoA for 440MW ISTS Connected Hybrid Power Project from SJVN
The build-own-operate Project is part of a 1.5GW bid issued by SJVN in September 2023.
March 12, 2024. By News Bureau
The build-own-operate Project is part of a 1.5GW bid issued by SJVN in September 2023. Subject to the execution of a power purchase agreement (PPA) and upon completion of the Project, power output from the Project will be sold to SJVN under a 25-year long-term PPA.
The Project is expected to be ready for commercial operation within 24 months from the date of signing the PPA and will be funded through a mixture of internal funds and debt.
Since its Investor Day 2023 held in November 2023, Sembcorp has announced over 1.4GW of greenfield and brownfield projects awarded and acquired in India. Including this latest award, Sembcorp’s gross renewables capacity globally is now at 14.3GW, including a 245MW acquisition pending completion.
The award of the Project is in the ordinary course of business and is not expected to have a material impact on the earnings per share and net tangible assets per share of Sembcorp for the financial year ending December 31, 2024.
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