The build-own-operate project is part of SJVN’s 1.2GW tender for Inter State Transmission System-connected solar projects with 600MW/2.4GWh of BESS capacity.
Under the contract, Sembcorp will supply solar power and support peak electricity demand for four hours daily through the BESS, subject to the execution of a 25-year power purchase agreement (PPA) with SVJN and upon the completion of the project.
Commercial operations are expected to begin within 24 months from the date of signing the PPA. The project will be funded through a mixture of internal funds and debt.
Shares in Sembcorp closed at $6.64 on May 28.
