The project is backed by a 20-year 500MW power purchase agreement with Nama Power and Water Procurement Company and will be earnings accretive to Sembcorp.
With an installed peak capacity of 588MW, it is Sembcorp’s largest utility-scale solar farm in its global renewables portfolio.
Sembcorp shares changed hands at $5.52 as at 1.56 pm, up 1.28% thus far today and up 3.37% year to date.
See also: Singapore’s energy vulnerability paradox: How board directors must navigate hidden energy risks
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