Sembcorp Industries is pleased to announce the completion of the SECI 1 wind power project in Tamil Nadu, developed by the Group's India power arm, Sembcorp Energy India Limited (SEIL). Completed ahead of schedule, the 250-megawatt SECI 1 project marks the first delivery of installed capacity awarded under India's nationwide wind power tenders. The project was dedicated to the nation by India's Minister of State (IC) for Power and New & Renewable Energy, Shri Raj Kumar Singh, last Friday at the 2nd Global RE-INVEST Summit in New Delhi.
Located in Chandragiri in Tamil Nadu, SECI 1 consists of 119 units of 2.1-megawatt S111-120m wind turbine generators. SEIL's fully-owned subsidiary Sembcorp Green Infra Limited had won the project in the first round of wind tenders conducted by the Solar Energy Corporation of India (SECI) on behalf of India's Ministry of New and Renewable Energy (MNRE) in April 2017. The project's entire capacity was completed ahead of SECI timelines.
Power generated from the project will be supplied to the states of Jharkhand, Bihar, Uttar Pradesh and Delhi, under a long-term power purchase agreement between SEIL and Power Trading Corporation. It is estimated that SECI 1 will light up more than 216,000 homes and reduce CO2 emissions by over 700,000 tonnes1 per annum.
Vipul Tuli, Managing Director, Sembcorp Energy India Limited, said, "The successful completion of the Chandragiri wind power project is an important milestone in Sembcorp's journey towards providing energy to support India's continued development and prosperity. It is a moment of pride for us to be able to deliver the entire project ahead of the SECI timelines. This project adds to Sembcorp's growing renewable energy portfolio worldwide, and strengthens our collective track record in clean energy.
Not only is this a happy day for Sembcorp, but also for the Indian energy sector. This project reflects the tremendous advances that India's wind industry has made in ensuring cost effective energy security for India, through new technology, executing massive projects on time, indigenisation, and with greater transparency."
1 Calculated based on assuming a plant load factor (PLF) of 35% and using the combined margin from Central Electricity Authority (CEA): Baseline Database for Indian Power Sector, version 8.
ABOUT SEMBCORP INDUSTRIES
Sembcorp Industries is a leading utilities, marine and urban development group, present across five continents.
As an integrated energy player, Sembcorp is poised to benefit from the global energy transition. With a strong track record in developing and developed markets, it provides solutions across the energy and utilities value chain, with a focus on the Gas & Power, Renewables & Environment, and Merchant & Retail sectors. It has a balanced energy portfolio of over 12,000 megawatts, including thermal power plants, renewable wind and solar power assets, as well as biomass and energy-from-waste facilities. In addition, Sembcorp is a world leader in offshore and marine engineering, as well as an established brand name in urban development.
Sembcorp Industries has total assets of over S$22 billion and over 7,000 employees. Listed on the main board of the Singapore Exchange, it is a component stock of the Straits Times Index, several MSCI and FTSE indices, as well as the SGX Sustainability Leaders Index and the Dow Jones Sustainability Asia Pacific Index.
For more on sustainability at Sembcorp, please go to http://www.sembcorp.com/en/sustainability/
ABOUT SEMBCORP'S ENERGY BUSINESS IN INDIA
India is a key market for the Sembcorp Group's energy business. Sembcorp's 93.73%-owned entity, Sembcorp Energy India Limited, is a leading independent power producer in the country. Formerly known as Thermal Powertech Corporation India Limited, Sembcorp Energy India Limited owns 100% of both Sembcorp Gayatri Power Limited and Sembcorp Green Infra Limited, and represents a balanced portfolio of thermal and renewable energy assets totalling 4.37 gigawatts' capacity.
Disclaimer:
Sembcorp Energy India Limited is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its Equity Shares and has filed the DRHP with the SEBI. The DRHP is available on the websites of SEBI, BSE, NSE at www.sebi.gov.in, www.bseindia.com, www.nseindia.com, respectively and is available on the websites of the GCBRLMs at www.axiscapital.co.in, https://www.credit-suisse.com/in/en/investment-banking/regional-presence/asia-pacific/india/ipo.html, www.india.clsa.com and www.sbicaps.com, respectively and on the website of the BRLM at www.indusind.com. All potential investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, please refer to the DRHP including the section titled "Risk Factors" on page 16 of the DRHP and any investment decision shall be made on the basis of the Red Herring Prospectus, when available. Potential investors should not rely on the DRHP filed with the SEBI for making any investment decision.
The Equity Shares have not been and will not be registered under the U.S. Securities Act, 1933 as amended (the "US Securities Act") or any state securities laws in the United States, and unless so registered, and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and in accordance with any applicable U.S. state securities laws. Accordingly, the Equity Shares are being offered and sold (i) in the United States solely to "qualified institutional buyers" (as defined in Rule 144A under the U.S. Securities Act) in transactions exempt from the registration requirements of the U.S. Securities Act and (ii) outside the United States in offshore transactions in reliance on Regulation S of the U.S. Securities Act and the applicable laws of each jurisdictions where such offers and sales are made.
For analysts' and media queries, please contact:
Analysts
Ling Xin Jin (Ms)
Senior Manager
Group Strategic Communications & Sustainability
DID: +65 6723 3384
Email: ling.xinjin@sembcorp.com
Media
In Singapore:
Archanaa N. Raja (Ms)
Manager
Group Strategic Communications & Sustainability
DID: +65 6723 3186
Email: archanaa.raja@sembcorp.com
In India:
Sourav Das (Mr)
Vice President
Corporate Communications
Sembcorp Energy India Limited
Mob: +91 9910377455
Email: sourav.das@sembcorp.com
