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Sembcorp wins bid for 250MW wind-power project in India
SEMBCORP Industries has won the bid for a wind-power project in India which is estimated to cost about 19 billion rupees (S$415 million).
The project, which will have a capacity of close to 250 megawatts (MW), will be located in the southern state of Tamil Nadu and connected to India's central transmission utility. Sembcorp's renewable energy business in India, Sembcorp Green Infra, received a letter of award for the project following the first national wind-power tender in India.
The electricity output of the project will be sold to India-listed Power Trading Corporation under a 25-year long-term power purchase agreement.
To be funded with internal funds and debt, the project will be developed in phases and fully commissioned in the second half of the Indian financial year ending March 31, 2019, said Sembcorp.
The project award is not expected to have a material impact on the group's earnings per share and net asset value per share for the current financial year, it added.
Sembcorp currently has a power capacity of over 3,800MW in operation and under development in India, comprising both thermal and renewable energy assets.
Globally, the group has a capacity of more than 2,000MW of renewable energy - including wind, solar and biomass - and energy-from-waste in Singapore, China, India and the United Kingdom.