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The blue-chip utility group is building up its renewables capacity and sees good prospects ahead. The post Sembcorp Industries Reported a 56% Jump in Net Profit and Upped its Dividend: 5 Highlights from the Utility Giant’s Latest Earnings appeared first on The Smart Investor.

Sembcorp Green Infra has signed the agreement to acquire Mumbai-based renewable power producer Vector Green, which has a cumulative 583 MW of solar and wind portfolio in India.

Sembcorp Green Infra has agreed to acquire Mumbai-based renewables producer Vector Green, which has a 583 MW solar and wind portfolio in India.

Singapore-listed utility company Sembcorp Industries Ltd on Sunday said it will acquire clean energy platform Vector Green Energy for Rs 2,780 crore to expand its renewable energy footprint in India to 3 gigawatts (GW). Vector Green Energy, owned by funds managed by the Indian subsidiary of Global Infrastructure Partners, has 519 megawatts of operational (495 MW solar and 24 MW wind) and 64 MW

Sembcorp Industries has signed an agreement to acquire Vector Green Energy for a base equity consideration of around $345 million.

A wholly owned subsidiary of Singapore-based energy company Sembcorp Industries has secured a deal to acquire Indian IPP Vector Green Energy.

Sembcorp Industries has signed an agreement to acquire Vector Green Energy for a base equity consideration of around $345 million.

Sembcorp Industries will acquire Vector Green Energy for Rs 2,780 crore to expand its renewable energy footprint in India to 3 gigawatts (GW), the company said on Sunday.

The firm reportedly also has 1 GW of investment-ready assets in the pipeline.The completion of the acquisition in the next three months will bring the Singapore-based groups gross renewable energy capacity to 8.5 GW, closer to its 2025 target of 10 GW of gross installed renewable capacity, Sembcorp said in a statement.The acquisition complements Sembcorps existing portfolio which comprises 90 per cent of wind energy projects.

Acquisition brings significant utility-scale solar capacity to our India business, which will complement our existing wind portfolio: Vipul Tuli