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Sembcorp wins 2nd project via Indian wind power auctions

IANS  |  New Delhi 

Singapore-listed Sembcorp's renewable energy business has won another bid to set up a 250 MW wind power project in following the country's second wind power tender, the company's Indian arm said on Wednesday.

"Sembcorp has won yet another project in India's wind power market. Its renewable energy business Sembcorp Green Infra was awarded a 250-megawatt project in the country's second nationwide wind power tender," a company statement said here.

"This makes Sembcorp the utility player which has won the largest combined capacity in India's two national wind power tenders so far," it said.

"Sembcorp Green Infra received the official letter of award for the project, following the close of the tender conducted by the Solar Energy Corporation of (SECI) on behalf of the Ministry of New and Renewable Energy," it added.

The company said the project is expected to be fully commissioned by the first half of 2019.

The power generated from the project would be sold to SECI under a 25-year long term power purchase agreement.

"We are pleased to have secured back-to-back wins in both national wind power tenders held to date. This demonstrates Sembcorp's strong renewable energy capabilities," Sembcorp Green Infra Chief Executive Sunil Gupta said in a statement.

"Greater transparency and offtake creditworthiness, combined with declining equipment prices, has allowed us to provide clean power at lower tariffs," he added.

Noting that the new project will expand Sembcorp's presence in the Indian power market, Sembcorp said it has over 4,000 MW of power capacity in operation and under development in the country, comprising both thermal and renewable energy assets.

The company has wind, solar, biomass energy, as well as waste-to-energy projects in Singapore, China, and the UK.

--IANS

bc/dg

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, November 15 2017. 16:38 IST
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