Standard Chartered is overseeing the sale process, with the final bids due by August 19
Sembcorp has signed agreements to secure 673MW of renewables capacity since it announced its 2028 target to achieve 25GW of gross installed renewables capacity.
As part of the order, Suzlon will install 24 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 2.1 MW each, Suzlon Group said in a statement.
The companies are expected to submit non-binding bids in January for the deal, which is likely to have an equity value of around $600 million, the report stated.
The acquisition will bring Sembcorp's gross renewable energy capacity to 8.5 GW, closer to its 2025 target of 10 GW of gross installed renewable capacity, it said in a press statement.
In order to reduce its official carbon footprint, Sembcorp Industries Ltd. sold two coal-fired power plants to an Omani group for $1.5 billion.
Sembcorp Industries had recently announced that had exited its thermal power business in India by selling its coal-fired power units to Oman’s Tanweer Infrastructure Pte for around $2.1 billion.
Sembcorp's SLB is the first issuance by an energy company in Southeast Asia and the region's largest such issuance to date.
The equity injection is funded through a mix of internal funds and borrowings, Sembcorp has said in a filing to the Singapore stock exchanges.
Comparatively, SCI's second highest spending was in Singapore at SGD 144.16 million, or 35 per cent of the total, according to latest financial report released today.
As at 2016 end, the net asset value and net tangible asset value at SGI level were SGD 427.6 million and SGD 426.9 million, respectively.
Sembcorp Green Infra received a letter of award for the project following the country's first national wind power tender conducted by Solar Energy Corp of India, Sembcorp said in a statement.
A host of power companies have been shedding their assets lately to counter fuel supply concerns and mounting interest costs burden. An article in Mint today reports the BC Jindal group company - Jindal India Thermal Power (JITPL) - is also on the lookout for buyers to sell its 1,200 megawatt (MW) Odisha plant.
Hyderabad-based infrastructure firm NCC plans to reduce its debt to Rs 100 crore in FY17, Executive VP, Finance, YD Murthy tells CNBC-TV18.
Even as the power industry continues to remain in the doldrums, Singapore-based Sembcorp sees a vibrant future for both its Indian foray as well as the industry.
Quoting sources, Navin Shetty of CNBC-TV18 reported that the companies plan to restructure debt of Rs 13,200 crore through the 5:25 route for Thermal Powertech Corporation and Sembcorp Gayatri Projects in Nellore.
In an interview to CNBC-TV18, Vipul Tuli, CEO & Country Head-India at Sembcorp spoke about their acquisition plans in India and gave his outlook for the company.
Sembcorp, which plans to focus on wind and solar energy, where costs are expected to drop further by 2020, has total power capacity of about 8,800 megawatts (MW).
The company is hopeful of clocking more than Rs 8000 crore worth of orders for FY15 and around 8,000-10,000 cr for FY16, says YD Murthy, Executive VP-Finance, NCC.
CNBC-TV18 learns that the company is likely to have conducted an initial round of inspection at the plant which is one of the assets GMR is trying to monetize to pare it Rs 40000 crore debt.
YD Murthy, executive vice president -Finance says high interest costs and rising debt levels led to a fall in Q3 earnings.
NCC Power Projects, promoted jointly by Hyderabad-based infrastructure firms NCC and Gayatri Projects, is building a 1,320-mw coal-fired plant in Nellore district in Andhra Pradesh with total investments of Rs 7,050 crore.