In a move that will help pare its coal-based power capacity, Sembcorp Industries will sell its two India-based power plants to Oman’s Tanweer Infrastructure Pte for Rs 11,700 crore. The two super critical power plants, with a combined capacity of 2.6 GW, are located in Andhra Pradesh.
The Singapore-based utility said on Monday it has entered into an agreement to sell 100 per cent of its holding in Sembcorp Energy India (SEIL) to Tanweer, indirectly owned by a consortium led by Oman Investment Corporation (OIC) in partnership with the Ministry of Defence Pension Fund, Oman and Dar Investment SPC.
