[SINGAPORE] Sembcorp Industries’ wholly owned renewables subsidiary, Sembcorp Green Infra, was awarded a solar-energy storage hybrid project by SJVN, an Indian state-owned power company.
Sembcorp Green Infra will develop, own and operate the project and supply 150 megawatts (MW) of solar power to SJVN over a 25-year period, subject to the execution of a power purchase agreement (PPA) to be signed with the Indian power company.
Once the project is complete, a 300 megawatt-hour (MWh) battery-energy storage system (Bess) will be able to dispatch energy to the grid on demand to support the electricity needs during peak periods for up to four hours per day, the group said on Thursday (May 29).
Commercial operations for the project are expected to start within 24 months of the date of the signing of the PPA, the group noted.
The project is part of SJVN’s 1.2 gigawatt (GW) tender for the Inter State Transmission system-connected solar projects with 600 MW/ 2.4 GWh of Bess capacity.
As one of four renewable-energy implementing agencies in India, SJVN issues tenders for renewable energy companies in the country to bid for and build capacity for sale to the grid, Sembcorp said.
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The project will be funded through a blend of internal funds and debt.
It is not expected to have a material impact on Sembcorp’s earnings per share and net tangible assets per share for the financial year ending December 2025, the group said.
As Sembcorp’s second solar-energy storage hybrid project in India, the project raises the group’s gross renewables capacity in the country to 6.3 GW.
Globally, the group’s total renewables portfolio stands at 17.7 GW, including acquisitions pending completion.
It comes on the back of the group’s first solar and Bess hybrid project in India, involving a 150 MW solar photovoltaic project with a 300 MWh Bess, announced in December 2024.
Then, Sembcorp Green Infra was awarded a build-own-operate project by Indian public sector company Solar Energy Corporation of India to supply power and support electricity demand during peak periods for up to four hours daily for 25 years.
The counter ended on Wednesday 1 per cent or S$0.07 lower at S$6.64.
