Deliberations between Sembcorp and B.Grimm are ongoing and there’s no certainty that an agreement will be reached, the people said. B.Grimm declined to comment and Sembcorp didn’t respond to requests for comment. A possible B.Grimm stake sale has been a few years in the making, with Bloomberg News reporting in 2023 that the company was working with an adviser to identify potential investors.
Conventional energy accounted for 71% of B.Grimm’s portfolio as of the end of August, according to a presentation to investors. The company has said it intends to get renewable energy on an equal footing with conventional energy by 2030.
Sembcorp’s businesses include gas and diesel-fired power plants, as well as wind, solar, hydro and energy storage operations in Southeast Asia, China, India, the UK and Middle East.
