"Sembcorp Lands 440-Megawatt Wind-Solar Hybrid Project"

Sembcorp Industries, operating through its subsidiary Green Infra Wind Energy Limited (GIWEL), has been granted the letter of award (LOA) for a significant 440-megawatt (MW) inter-state transmission system (ISTS) connected wind-solar hybrid power project by SJVN.

This project is part of a larger 1.5-gigawatt (GW) bid initiated by SJVN in September 2023, as confirmed by Sembcorp. Upon completion and subject to the execution of a power purchase agreement (PPA), the power generated will be sold to SJVN under a 25-year contract.

Expected to be operational within 24 months from the PPA signing, the project's financing will be supported by a blend of internal funds and debt.

Sembcorp has been actively expanding its renewable energy portfolio in India, with over 1.4 GW of greenfield and brownfield projects announced since its Investor Day in November 2023. Including this latest award, Sembcorp's gross renewables capacity globally now stands at 14.3 GW, with a pending acquisition of 245 MW.

Despite this significant milestone, the impact of the project on Sembcorp's financials for the fiscal year ending December 31, 2024, is anticipated to be immaterial, affirming that the award aligns with the company's ongoing business operations.

HBL