Sembcorp Industries has received the letter of award (LOA) for a 300MW inter state transmission system (ISTS) connected wind-solar hybrid power project from NTPC on Nov 26. The project is part of a 1.2GW bid issued by NTPC. The LOA was received by Sembcorp’s wholly-owned renewables subsidiary Sembcorp Green Infra Private Limited.
According to Sembcorp, power output from the project will be sold to NTPC under a 25-year long-term power purchase agreement (PPA). The project is expected to be ready for commercial operations within 24 months from the signing of the PPA. The project will be funded through a mix of internal funds and debt.
The LOA brings Sembcorp’s gross renewables capacity in India to 5.4GW. It also brings its global renewables capacity to 16GW.
Shares in Sembcorp closed at $5.23 on Nov 25.
