Singapore's Sembcorp Industries revealed on Thursday that its renewables unit has clinched a significant milestone, securing a 300-megawatt (MW) solar power project from the Indian government-run hydropower producer NHPC Ltd.
In a letter of award, NHPC confirmed the final offer from Sembcorp's unit, Green Infra Wind Energy Ltd (GIWEL), cementing a commitment to purchase the power output from the project for a duration of 25 years under a long-term power purchase agreement, as stated in Sembcorp's official statement.
The project's funding will be a combination of internal funds and debt, with commercial operations slated to commence in 2026, according to the energy and urban solutions provider.
This accomplishment follows closely on the heels of GIWEL's recent agreement with Indian power producer Leap Green Energy, wherein it acquired two special purpose vehicles with 228 MW of operational wind assets spread across Madhya Pradesh, Maharashtra, and Rajasthan.
Adding to its recent successes, Sembcorp secured a tender earlier this week from Singaporean government agency JTC Corporation for the city-state's largest solar project on Jurong Island.
