Sembcorp Secures 300 MW Wind-Solar Hybrid Project from NTPC

Sembcorp Industries, through its wholly-owned subsidiary Sembcorp Green Infra Pvt Ltd, has been awarded a 300 MW wind-solar hybrid power project by NTPC Ltd. The project is a part of a 1.2 GW capacity tender floated by NTPC.

As per reports, the build-own-operate project involves an Inter-State Transmission System (ISTS)-connected hybrid power plant. Sembcorp received the Letter of Award (LOA) for the project and will execute a long-term power purchase agreement (PPA) with NTPC, upon which power generated will be sold to the state-owned power giant for 25 years.

The company plans to complete the project within 24 months from the signing of the PPA, utilising a combination of internal funds and debt for financing. This project will further enhance Sembcorp’s renewable energy portfolio in India, where its secured greenfield capacity has now reached nearly 2 GW since November 2023.

With the addition of this project, Sembcorp’s total gross renewables capacity in India has grown to 5.4 GW, reinforcing the company’s position as a key player in the country’s clean energy transition. Globally, Sembcorp’s renewables capacity now stands at 16 GW, including a pending acquisition of 49 MW.

The company noted that this award aligns with its regular business operations and is not expected to significantly affect its earnings per share or net tangible assets per share for the financial year ending December 31, 2024.

This development reflects Sembcorp’s commitment to advancing sustainable energy solutions and contributing to India’s ambitious renewable energy goals.