Sembcorp Industries, via its fully owned subsidiary, New Delhi NTPC Limited has awarded a 300MW wind-solar hybrid power project connected to the Inter-State Transmission System (ISTS) to Sembcorp Green Infra Private Limited. The project will be carried out using a build-own-operate approach and is a component of NTPC's 1.2GW offer.
A 25-year power purchase agreement (PPA), which has not yet been finalised, will provide NTPC with the electricity produced by the project. It is anticipated that the project will start commercial operations in 24 months after the PPA is signed, and it will be financed by a combination of debt and internal resources.
Since November 2023, Sembcorp has acquired about 2GW in greenfield renewable energy projects in India, bringing its total gross renewable capacity in the nation to 5.4GW with the most recent award.
Sembcorp now has 16GW of renewable energy in its portfolio worldwide, including a 49MV acquisition that is still ongoing.
According to the company, the project award is in the regular course of business and is not anticipated to have a significant effect on its net tangible assets per share or earnings per share for the fiscal year that ends on December 31, 2024.
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