お知らせ • Jul 06
Sembcorp Reportedly Eyes ReNew's Green Energy Projects
Sembcorp Industries Ltd. (SGX:U96) is in talks to acquire green energy projects totalling 1.1 gigawatts (GW) from ReNew Energy Global Plc, with the deal estimated to be valued at $1.2 billion at the enterprise level and around $450 million in terms of equity, two people familiar with the development said. Mint had earlier reported that Ahmedabad-based Torrent Power had submitted a non-binding offer for the same projects comprising solar and wind power assets of 350 megawatts and 750MW, respectively. Sembcorp and Torrent Power had been vying for the acquisition of India Infrastructure Fund II, a private equity firm owned by US's Global Infrastructure Partners, to buy Vector Green Energy Private Ltd, which Sembcorp Green Infra Ltd. eventually acquired for an equity value of SGD 474 million, or $345 million. "Sembcorp is doing due diligence. Torrent is interested in the assets as well," said one of the two people cited above, seeking anonymity. Sembcorp, which is listed on the Singapore Exchange, has an energy portfolio of 18.5GW, of which 11GW is renewable energy projects, including wind, solar, and energy storage. Of this, its installed and under-development renewables portfolio in India is at 3GW, including 1GW solar assets and 2GW wind assets. The firm is further increasing its investments in India's green energy sector after the sale of Sembcorp Energy India Ltd. to Tanweer Infrastructure Pte. Ltd. for INR 117.00 billion. Sembcorp Energy operates two supercritical coal-fuelled power projects totalling 2.6GW. A ReNew Energy Global Plc spokesperson said in an emailed response: "We don't have any comment to offer." Queries to spokespersons of Sembcorp Industries and Torrent Power on Sunday night did not elicit any response till press time. Meanwhile,ReNew Energy Global is working on selling its operational, clean energy capacity as part of its capital recycling strategy to reinvest the proceeds in building new clean energy assets. ReNew has been exploring several opportunities, including selling a 30% stake in its 2.3GW commercial and industrial projects. It had recently announced a partnership with Malaysia's state-run oil and gas company, Petroliam Nasional Bhd, where Petronas' subsidiary Gentari Sdn Bhd will buy a 49% equity stake in NASDAQ-listed ReNew's 403MW peak power project. India is witnessing a surge in green energy deals. Mint has reported on several transactions, including investments from Japan's Sumitomo Mitsui Banking Corp., Asian Infrastructure Investment Bank, and private equity firm Intermediate Capital Group's plans to invest $250 million in Amp Energy India. As of 31 March, India's overall power generation capacity stands at 416.05GW, of which renewable energy contributes 125.16GW, with solar accounting for 66.78GW and wind accounting for 42.63GW. Besides, efforts are on to implement 82.62GW of green energy capacity, and another 40.89GW is in various stages of tendering, according to government data. ReNew, one of India's largest clean energy companies, has a INR 350.00 billion capital expenditure plan and a total portfolio of 13.7GW, around 8GW of which is operational. As part of its growth strategy, the company founded by Sumant Sinha has joined hands with AES and Siemens-backed Fluence to form an equal venture for the energy storage business in India.