Sembcorp wraps up buy of 40-MW solar project in Singapore

Solar array. Author: h080.

June 20 (Renewables Now) - Singaporean energy group Sembcorp Industries Ltd (SGX:U96) has completed the acquisition of a 40-MW under-construction rooftop solar park in Singapore.

The purchase was carried out through Sembcorp Solar Singapore Pte Ltd, which has bought all shares of MSOA Pte Ltd, the company developing the project. The Singaporean firm said in a press release last Thursday that its investment in the scheme, including the acquisition of the project development company and future costs for building the grid-connected plant is seen at around SGD 55 million (USD 40.5m/EUR 35m).

Sembcorp does not expect the deal to have a material effect on its earnings per share (EPS) and net asset value per share in the current fiscal year. It did not provide additional information regarding the acquired project.

The Singaporean company owns 12 GW of gross power generation capacity. According to its website its renewables portfolio consists of over 2 GW plants in operation and under development in Singapore, China, India and the UK.

(SGD 1.0 = USD 0.737/EUR 0.637)

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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