Sembcorp walks the ‘green’ talk with sale of Indian coal power assets
Add BT as a preferred source
Anita Gabriel
UTILITIES giant Sembcorp Industries (SCI) has walked an extra mile on its “green” talk with the recently announced plan to sell a 100 per cent stake in one of India’s largest independent power producers, Sembcorp Energy India (SEIL).
This sale involving 2 “supercritical” coal-fired plants in India, totalling 2.6GW, for S$2.1 billion to Oman’s Tanweer Infrastructure is quite possibly Sembcorp’s most deliberate and decisive move since it unveiled a brown-to-green transformation roadmap in May 2021 and pledged to no longer invest in new coal-fired energy assets.
A potential sale of its conventional energy assets, apart from adding renewable energy projects to its stable, has always been on the table for Sembcorp, which has armed itself with measurable and clear goals to transform its massive energy portfolio. The sale of fossil-fuel powered plants, however, is trickier than the long game of clean energy, as many of the markets it operates in still chiefly rely on traditional sources to power energy needs.
TRENDING NOW
CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse
Rare brutalist Singapore house opens to the public before changing hands
