Singapore’s Sembcorp bags 300 MW solar project from India’s NHPC

Singapore-based energy and urban development company Sembcorp Industries announced its renewables unit had bagged a 300 MW solar power project from NHPC Ltd, a hydropower company run by the Indian government. The project, which will be funded by internal funds and debt, is scheduled to begin commercial operation in 2026.

In its letter of award, NHPC confirmed the final offer submitted by Sembcorp's wholly-owned subsidiary Green Infra Wind Energy Ltd (GIWEL), and committed to purchasing electricity from the project for 25 years under a long-term power purchase agreement. 

NHPC's award comes weeks after GIWEL reached an agreement with Tamil Nadu-based power generator Leap Green Energy to acquire two special purpose vehicles from the company owning 228 MW of wind capacity across Madhya Pradesh, Maharashtra and Rajasthan.

GIWEL currently sells electricity generated from the operating portfolio of 801.20 MW capacity wind assets across seven states to various state distribution companies and the Solar Energy Corp of India (SECI). This will be the second solar project being implemented through GIWEL, which is also setting up a 400 MW solar project for SECI through its own subsidiary, Green Infra Renewable Projects Ltd.

The project, awarded on build-own-operate basis, is part of a 3 GW bid issued by NHPC earlier this year, Sembcorp said in a statement. 

With this project, Sembcorp said its gross renewables portfolio in India would reach 3.7 GW, while gross renewables capacity globally will touch 13 GW, including 473 MW of acquisitions awaiting completion. 

Last month, Sembcorp announced plans to halve its carbon emissions by 2028. The company said it would invest about $7.76 billion, or 75 percent of its total investments over 2024-2028, to grow its gross installed renewables capacity to 25 GW, and would also evaluate production and consumption of hydrogen and its derivatives. 

Sembcorp also said it was on track to achieve net zero carbon emissions by 2050, having achieved its 2025 target ahead of schedule.