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Sembcorp Buys 100% Stake in Vector Green Energy

Singapore’s Sembcorp Industries Ltd on Sunday announced that its subsidiary Sembcorp Green Infra Ltd (SGIL) has inked an agreement with US private equity firm Global Infrastructure Partners’ India Infrastructure Fund II to buy 100% stake in Vector Green Energy Private Ltd at an equity value of S$474 million ($345 million).

 

Mint reported on 10 November about the finalized deal, and on 13 August about Sembcorp and Torrent Power Ltd in the race to buy Vector Green Energy. Standard Chartered ran the sale process. The transaction once over will add 583 megawatt (MW) of renewable assets to Sembcorp’s portfolio in India. Singapore Exchange listed Sembcorp through SGIL has a 1.9-gigawatt (GW) wind energy capacity in India.

 

“Completion of acquisition will bring the Group’ s gross renewable energy capacity to 8.5 GW, closer to its 2025 target of 10 GW of gross installed renewable capacity," Sembcorp said in a statement on Sunday and added, “Sembcorp’s gross renewable energy portfolio installed and under development in India will grow to 3 GW."

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