Sembcorp furthers green pivot with latest acquisition in China; observers say risks present but surmountable
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SEMBCORP Industries' U96 announcement of its acquisition of a stake in Chinese renewable energy company State Development Investment Corporate Group (SDIC) New Energy is yet another move that will bring the conglomerate closer to its goal of transforming its portfolio from "brown to green".
SDIC New Energy holds a portfolio of 30 operational wind and solar photovoltaic (PV) assets with a total gross installed capacity of about 1.9 gigawatts (GW) located across 7 provincial regions in China.
Sembcorp said this investment is part of its target to reach 10 GW in gross installed renewables capacity by 2025.
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