A 300 MW wind-solar hybrid power project by NTPC Limited has been awarded to Sembcorp Industries, through its wholly-owned subsidiary Sembcorp Green Infra Pvt Ltd. The granted project is a segment of NTPC’s 1.2 GW capacity tender.
This project constitutes of an Inter-State Transmission System (ISTS) linked hybrid power plant. For the project, Sembcorp acquired the Letter of Award (LOA) and are bound to implement a durable power purchase agreement (PPA) with NTPC thereupon marketing the generated power to the state-owned power giant for 25 years.
Through the conglomeration of internal funds and debt financing, the company intends to finalize the project within 24 months since the penning of the PPA.
Furthermore, the project aims to strengthen Sembcorp’s renewable energy portfolio in India and since November 2023, its secured greenfield capacity has expanded to about 2GW in India.
Sembcorp‘s gross renewables capacity in India has advanced to 5.4 GW through the inclusion of this project, emphasising the prominence of the company in nations clean energy transition. Along with a pending acquisition of 49 MW, Sembcorp‘s renewable capacity at present remains at 16 GW.
The company recognised that this award is in line with their consistent business operations thereby failing to remarkably influence on net tangible assets per share or earnings per share for the economic year that concludes on December 31, 2024.
This progress resonates with the dedication of Sembcorp in expanding their sustainable energy solutions and contributing to India’s renewable energy targets
