Upon its completion, energy and urban development company will sell power output from the project to NTPC under a 25-year contract
INDIA’S NTPC has appointed Sembcorp Industries to build, own and operate a 300 megawatt (MW) wind-solar hybrid power project.
The project, which will be connected to the inter-state transmission system, is part of a 1.2 gigawatt (GW) bid issued by NTPC, India’s state-run power producer, the energy and urban development company said on Tuesday (Nov 26).
Upon its completion, Sembcorp will sell power output from the project to NTPC through a power purchase agreement under a 25-year contract.
The project is expected to be ready for commercial operation within 24 months from the signing of the agreeemnt.
This hybrid project brings Sembcorp’s renewables capacity in India to 5.4 GW. Prior to this, the company had a secured capacity of close to 2 GW from greenfield projects it secured since November 2023.
Its global renewables capacity now stands at 16 GW and includes a 49 MW acquisition that is pending completion.
Sembcorp said the project will be funded through a mixture of internal funds and debt and is in the ordinary course of business.
The company added that the project will not have any material impact on its earnings per share or net tangible assets per share for the financial year ending Dec 31.
Shares of Sembcorp closed down 0.4 per cent or S$0.020 at S$5.23 before the news on Monday.
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