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Sembcorp Green Infra Limited is going to purchase Vector Green
2023-01-22
Singaporean energy and urban development group Sembcorp Industries Ltd’s (SGX:U96) renewables arm has struck an accord to purchase Vector Green Energy Private Ltd, a renewable power producer in India with a joint wind and solar portfolio of 583 MW. Sembcorp will pay approximately INR 27.8 billion (USD 341.3m/EUR 328.7m) for the acquisition. This move will significantly increase the gross renewables portfolio of installed and under-development assets in India to a total capacity of 3 GW, including 1 GW of solar and 2 GW of wind projects, according to a recent press release from Sembcorp.
Vector Green is an independent power producer with a portfolio comprising 495 MW of solar plants and 24 MW of wind capacity in operation, plus 64 MW of solar projects under development. Its assets are dispersed across 13 states within the nation.
Sembcorp’s wholly-owned subsidiary Sembcorp Green Infra Limited is going to purchase Vector Green from a fund managed by the Indian branch of US investment firm Global Infrastructure Partners (GIP). The transaction will be financed through accessible cash and borrowing. Upon closing the deal, which is expected to take place during the first quarter of 2023, Sembcorp will come closer to reaching its goal of 10 GW of gross installed renewable capacity by 2025. At that moment, the Singaporean company’s portfolio will amount to 8.5 GW. Sembcorp Green Infra recently signed an agreement to acquire three solar projects in China with a combined capacity of 795 MW.
Singaporean energy and urban development group Sembcorp Industries Ltd’s (SGX:U96) renewables arm has struck an accord to purchase Vector Green Energy Private Ltd, a renewable power producer in India with a joint wind and solar portfolio of 583 MW. Sembcorp will pay approximately INR 27.8 billion (USD 341.3m/EUR 328.7m) for the acquisition. This move will significantly increase the gross renewables portfolio of installed and under-development assets in India to a total capacity of 3 GW, including 1 GW of solar and 2 GW of wind projects, according to a recent press release from Sembcorp.
Vector Green is an independent power producer with a portfolio comprising 495 MW of solar plants and 24 MW of wind capacity in operation, plus 64 MW of solar projects under development. Its assets are dispersed across 13 states within the nation.
Sembcorp’s wholly-owned subsidiary Sembcorp Green Infra Limited is going to purchase Vector Green from a fund managed by the Indian branch of US investment firm Global Infrastructure Partners (GIP). The transaction will be financed through accessible cash and borrowing. Upon closing the deal, which is expected to take place during the first quarter of 2023, Sembcorp will come closer to reaching its goal of 10 GW of gross installed renewable capacity by 2025. At that moment, the Singaporean company’s portfolio will amount to 8.5 GW. Sembcorp Green Infra recently signed an agreement to acquire three solar projects in China with a combined capacity of 795 MW.