GURGAON, India: Singapore's Sembcorp has won another project in India’s wind power market.
Its renewable energy business Sembcorp Green Infra was awarded a 250-megawatt project in the country’s second nationwide wind power tender, a press statement said on Monday (Nov 13).
"Sembcorp Green Infra Limited received the official letter of award for the project, following the close of the tender conducted by the Solar Energy Corporation of India (SECI) on behalf of the Government of India’s Ministry of New and Renewable Energy (MNRE)," the statement added.
Sembcorp said the project is expected to be developed in phases and targeted to be fully commissioned by the first half of 2019.
Upon the project’s completion, its entire power output will be sold to SECI under a 25-year long-term power purchase agreement. The project will be connected to India’s Central Transmission Utility and supply power to multiple states, helping them to meet their renewable energy requirement.
Sembcorp has won two national wind power tenders in India so far.
Sunil Gupta, managing director and CEO of Sembcorp Green Infra, said the back-to-back wins in both national wind power tenders held to date "demonstrates Sembcorp’s strong renewable energy capabilities.”
This new project will expand Sembcorp’s presence in India’s power market. The company has more than 4,000 megawatts of power capacity in operation and under development in the country, comprising both thermal and renewable energy assets.
Sembcorp said the award of this project is not expected to have a material impact on the earnings per share and net asset value per share of Sembcorp Industries for the financial year ending December 31, 2017.