Singapore’s Sembcorp Industries has offloaded its coal-fired power plants in India as it looks to increase its share of renewable energy assets.
Sembcorp Industries has said that it has entered into an agreement to sell its entire stake in Sembcorp Energy India Limited (SEIL) to Tanweer Infrastructure Pte Ltd for Rs 11,700 crore. SEIL is one of the largest independent power producers in India, operating two coalfired power plants with a combined capacity of 2,640MW in Andhra Pradesh.
It also has a renewable energy portfolio of 1,730MW, with another 700 MW under construction. The assets have been bought by Tanweer Infrastructure, which is indirectly owned by a consortium led by Oman Investment Corporation and Ministry of Defence Pension Fund — one of Oman’s largest pension funds with significant investments across power and infrastructure — and Dar Investment SPC.
