Sembcorp Industries has received the letter of award from SJVN Limited for its second solar-energy storage hybrid project in India. The contract, received through its wholly-owned renewables subsidiary, Sembcorp Green Infra Private Limited (SGIPL), brings Sembcorp’s gross renewables capacity in India to 6.3GW.
Sembcorp said, in its May 29 statement, that the award is for a contracted capacity of 150MW solar power project with a 300MWh battery energy storage system (BESS).
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.
