Sembcorp optimistic on 2028 renewables target, China market despite headwinds

[SINGAPORE] Sembcorp Industries is “well-positioned” to achieve its target of 25 gigawatts (GW) of gross installed renewables capacity by 2028, said the company’s chairman and chief executive in its FY2024 annual report.

The company’s gross renewables capacity stands at 17 GW as at February, “a notable increase from 12.9 GW a year ago”, said Sembcorp chairman Tow Heng Tan and chief executive Wong Kim Yin in the report, released on Tuesday (Apr 1).

“Looking ahead, renewables growth across South-east Asia, China, India and the Middle East is expected to remain robust,” they said, adding that the company will “maintain a disciplined approach to pursuing opportunities in these markets”.