Singapore's Sembcorp Industries Ltd has completed the acquisition of two Indian companies holding rights to 228 MW of wind farms in India, signaling the company's commitment to expanding its renewable energy portfolio.
According to a filing with the bourse, Sembcorp's subsidiary, Green Infra Wind Energy Ltd, finalized the purchase of the special purpose vehicles (SPVs) from independent power producer Leap Green Energy Pvt Ltd last November. The transaction, valued at approximately SGD 70 million (USD 51.9m/EUR 48.4m), grants Sembcorp ownership of wind farms located in Madhya Pradesh, Maharashtra, and Rajasthan.
These newly acquired assets bolster Sembcorp's global renewables portfolio, which currently stands at 13.5 GW gross, with an additional 245 MW acquisition pending completion.
In addition to the Indian wind farms, Sembcorp has also acquired 100% of the share capital in a company owning 200 MW of wind farms in China's Guangxi region. The SGD 130 million deal with Envision Energy Co Ltd, also agreed upon in November 2023, further solidifies Sembcorp's position in the renewable energy sector.
With these acquisitions, Sembcorp continues to diversify its renewable energy holdings, strategically positioning itself to capitalize on the growing demand for sustainable energy solutions in Asia and beyond.
