Sembcorp bags first solar plus energy storage project in India

This is a build-own-operate project.

Sembcorp Industries (Sembcorp), through its renewables subsidiary Sembcorp Green Infra Private Limited, has secured a 150 megawatt solar photovoltaic project plus 300 megawatt-hour battery energy storage system (BESS) in India, its first in the country.

In a statement, Sembcorp said the build-own-operate project is part of a bid for 2 gigawatts (GW) inter-state transmission system-connected solar power projects with 4 gigawatt-hours of BESS issued by Solar Energy Corporation of India Ltd.

The BESS will provide on-demand power to support daily peak electricity for four hours for 25 years, subject to the execution of a power purchase agreement (PPA).

Commercial operation is expected within 24 months from the date of signing the PPA and will be funded through a mixture of internal funds and debt.

The project brings Sembcorp’s gross renewables capacity in India to nearly 6 GW, and its global clean energy capacity to 16.5 GW.

The award of the project is in the ordinary course of business and will not have a material impact on the earnings per share and net tangible assets per share of Sembcorp for the financial year ending 31 December 2024.