The release notes that subject to the execution of a power purchase agreement (PPA) and upon completion of the project, power output from the project will be sold to SECI under a 25-year-long term PPA. The project is expected to be ready for commercial operation within 24 months from the signing of the PPA and will be funded through a mixture of internal funds and debt.
This brings Sembcorp’s gross renewable portfolio in India to 4.9 gigawatts (GW), and the firm’s gross renewable capacity globally to 14.6GW, including a 49MW acquisition pending completion.
Sembcorp says that the project is not expected to have a material impact on the earnings per share and net tangible assets per share of Sembcorp for the financial year ending Dec 31.
As at 9.09am, shares in Sembcorp Industries (SGX:U96
) are trading flat at $5.50.
