Sembcorp to buy 428 MW wind assets in India, China
Qinzhou Yuanneng owns 200MW of operational wind assets in Guangxi, China, the statement said.
Representative Image (Reuters)
NEW DELHI: Sembcorp Industries on Monday announced that it has signed two separate agreements to acquire 428 MW of wind power assets in China and India for 200 million Singaporean dollar (about Rs 1,247 crore).
The Singaporean energy company, backed by state-owned investor Temasek Holdings Pte, will acquire 228 MW of operational wind power assets of Leap Green Energy Pvt Ltd for 70 million Singaporean dollar and 200 MW of Qinzhou Yuanneng for 130 million Singaporean dollar, the firm said in a statement.
Sembcorp has been operating in India for more than 12 years, with a presence across 18 states. With this acquisition, the company now has a balanced portfolio of 3.7 GW of renewable assets, comprising 2.25 GW of wind and 1.45 GW of solar assets. Last year, it announced the acquisition of Vector Green to add 583 MW of renewable assets in India.
“Sembcorp’s wholly-owned subsidiary, Sembcorp Energy (Shanghai) Holding Co Ltd has signed an agreement with Envision Energy Co Ltd to acquire 100 per cent of the share capital in Qinzhou Yuanneng Wind Power Co Ltd (Qinzhou Yuanneng) for an equity consideration of approximately 130 million Singaporean dollar.’’
Qinzhou Yuanneng owns 200MW of operational wind assets in Guangxi, China, the statement said.
Separately, its “wholly-owned subsidiary, Green Infra Wind Energy (GIWEL), has signed an agreement with Leap Green Energy Private Limited (Leap Green Energy), an independent power producer in Tamil Nadu.
Under the agreement, GIWEL will acquire from Leap Green Energy, 100 per cent of the share capital in two special purpose vehicles (SPVs) for an equity consideration of approximately 70 million Singaporean dollars. The SPVs own 228MW of operational wind assets in Madhya Pradesh, Maharashtra and Rajasthan, India,’’ it said.
