Sembcorp Industries, through its wholly owned subsidiary Sembcorp Green Infra Private Limited, has bagged a 300MW Inter-State Transmission System (ISTS) connected wind-solar hybrid power project from NTPC Limited. The project, part of NTPC’s 1.2GW bid, will be executed under a build-own-operate model.

The power generated from the project will be supplied to NTPC under a 25-year power purchase agreement (PPA), which is yet to be signed. The project is expected to commence commercial operations within 24 months of the PPA signing and will be funded through a mix of internal resources and debt. With the latest award, Sembcorp has secured close to 2GW in greenfield renewable energy projects in India since November 2023, taking its total gross renewable capacity in the country to 5.4GW.

Globally, Sembcorp’s renewable energy portfolio now stands at 16GW, including a 49MW acquisition pending completion. The company stated that the project award is in the normal course of business and is not expected to materially impact its earnings per share or net tangible assets per share for the financial year ending December 31, 2024.