Sembcorp buys remaining stake in Sembcorp Energy India for Rs 406 crore
Singapore-based Sembcorp Industries said on Wednesday that it is taking over complete ownership of its India business unit, Sembcorp Energy India (SEIL), by acquiring its remaining 5.95% stake from Gayatri Projects (GPL) for Rs 406 crore.
SEIL has more than 4,300 MW of operational and under-development coal-based and renewable energy power generation assets in the country. The acquisition will be funded through a mix of internal funds and borrowings, the company said.
SEIL is already expanding its footprint in the renewable energy sector in the country. Out of the 800 MW projects it was awarded through the SECI auctions, Sembcorp has already commissioned 607 MW, which is till date the the largest operational generating capacity among SECI wind auctions.
