The build-own-operate project is part of a 1.5GW bid issued by SJVN in September 2023.
Under the LOA, the power output from the project will be sold to SJVN under a 25-year long-term power purchase agreement (PPA). The project is expected to be ready for commercial operation within 24 months from date of the signing of the PPA. It will be funded through a mix of internal funds and debt.
With this latest award, Sembcorp’s gross renewables capacity globally is now at 14.3GW, including a 245MW acquisition pending completion.
Shares in Sembcorp closed 1 cent higher or 0.2% up at $5.07 on March 8.
