Sembcorp sells India unit to Omanese consortia for Rs 11,734 cr
Singaporean utility firm Sembcorp Industries on Monday announced the sale of its entire stake in its India unit to an Omanese consortium for Rs 11,734 crore as part of its decarbonisation drive.
The firm will sell 100 per cent of its shares in Sembcorp Energy India Ltd (SEIL) to Tanweer Infrastructure Pte Ltd, it said in a statement.
SEIL is one of the largest independent power producers in India, operating two coal-fired power plants with a combined capacity of 2,640 MW in Andhra Pradesh. It also has a renewable energy portfolio of 1,730 MW, with another 700 MW under construction.
Tanweer will pay the acquisition price in deferred payments and Sembcorp will stay on board as a technical advisor on completion of the sale, the firm said.
