Sembcorp Wins $405 million Wind Power Project in India

Sembcorp’s renewable energy won a bid for a wind power project in India which is estimated to cost $405 Million (approx. INR 19 billion) and close to 250 megawatts in capacity.

The project is located in Tamil Nadu and connected to connected to India’s Central Transmission Utility. The completion and full commissioning of the project is expected in the second half of the financial year ending March 2019. Upon completion, entire output will be sold to Power Trading Corporation under a 25-year long-term PPA.

The award of this project is not expected to have a material impact on the earnings per share and net asset value per share of Sembcorp Industries for the financial year ending December 31, 2017.

Image Source: Sembcorp