Sembcorp Industries Limited has signed two separate agreements to acquire a total of 428 MW of wind assets in China and India.
Sembcorp’s wholly-owned subsidiary, Green Infra Wind Energy Limited (GIWEL), has signed an agreement with Leap Green Energy Private Limited, an independent power producer in Tamil Nadu. Under the agreement, GIWEL will acquire 100 per cent of the share capital in two special purpose vehicles (SPVs) for an equity considerationof approximately $70 million. The SPVs own 228 MW of operational wind assets in Madhya Pradesh, Maharashtra and Rajasthan, India. Further, Sembcorp Energy (Shanghai) Holding Company Limited has signed an agreement with Envision Energy Company Limited to acquire 100 per cent of the share capital in Qinzhou Yuanneng Wind Power Co., Ltd, (Qinzhou Yuanneng) for an equity consideration of approximately $130 million. Qinzhou Yuanneng owns 200 MW of operational wind assets in Guangxi, China.