Sembcorp to expand its renewable portfolio in India, eyes 30% CAGR
In line with the global plan of Sembcorp Industries to “transform its portfolio from brown to green”, the global energy major will drive its renewable energy growth from India.
Sembcorp said last month that it aims to grow the profit contribution from its sustainable solutions portfolio to 70 per cent from 40 per cent by 2025. It plans to achieve a compounded annual growth rate (CAGR) of 30 per cent and its integrated urban solutions portfolio a CAGR of 10 per cent.
Sembcorp is aiming to have a gross installed renewable energy capacity of 10 Gw by 2025. Its current installed renewable energy capacity (comprising wind, solar and energy storage) is 2.6 Gw. The company is placing its bet on India, along with China and SouthEast Asia to drive the growth.
