Sembcorp Industries (Sembcorp) has entered into a share sale agreement to acquire 100% of Alinta Energy for A$6.5 billion ($5.60 billion).
Sembcorp will acquire the leading energy retailer and generator company from Australia from Pioneer Sail Holdings (PSH) and Latrobe Valley Power (LVP). Chow Tai Fook Enterprises has 9,962,674 class A shares in PSH. LVP is owned by Pioneer Sail Singapore, which also has a shareholding in PSH.
This means that Alinta has been owned by Chow Tai Fook Enterprises since 2017, and this acquisition for Sembcorp is aligned with its ambition to grow its renewables capacity to 25 gigawatt (GW) by 2025.
Alinta has a portfolio of high-quality, efficient generation assets with one of the highest dispatchable portfolio availabilities at 93%. Its 10.4GW development pipeline of renewables and firming systems supports Australia’s energy transition and energy security objectives.
The acquisition is expected to be completed in the first half of 2026.
Sembcorp has invested over $5 billion in renewable energy projects globally since 2020.
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Sembcorp says that it will maintain Alinta’s existing management team and operational structure, ensuring stability for employees, customers and partners. Day-to-day operations will continue to be led by Alinta’s Managing Director & CEO, Jeff Dimery, and his Australian leadership team.
“Australia is a well-established and forward-looking energy market, and this acquisition strengthens our presence in a key developed market while providing a scalable platform for Sembcorp to accelerate renewables and low-carbon growth,” says Alex Tan, president & CEO, Renewables, East, Sembcorp.
Shares in Sembcorp closed 2 cents lower or 0.342% down at $5.82 on Dec 11.
