SINGAPORE (July 3): Sembcorp Industries is investing in Vellocet Clean Energy (VCE) to gain a foothold to grow in the Australian power market, particularly in the direct supply of renewable energy to companies.

VCE is an Australian company offering clean energy solutions. The company’s capabilities include behind-the-meter power and microgrids which enable customers to save on high network and retailer costs, as well as mid-sized front-of-meter power supply and generation.

The company targets the market for corporate power purchase agreements (PPAs), a newer segment of the market which presents scope for growth. It is in active talks with potential customers, and has memoranda of understanding for a number of solar power projects.

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