SEMBCORP INDUSTRIES LTD - Project is targeted to be fully operational in the third quarter of 2015
Sembcorp Industries (Sembcorp) is pleased to announce that its first power project in India, Thermal Powertech Corporation India (TPCIL), has successfully commenced commercial operation with the completion of its first 660-megawatt unit. The 1,320-megawatt coal-fired power plant comprises two units of 660 megawatts each, with the second unit expected to begin commercial operation in the third quarter of 2015.
The approximately US$1.5 billion (S$2.03 billion) power plant investment utilises supercritical technology, which allows for enhanced efficiency and reduced emissions compared to other conventional coal-fired power plants, and is located in the coastal town of Krishnapatnam, Nellore, in Andhra Pradesh.
With the completion of this first unit, the plant has begun supplying power to the states of Andhra Pradesh and Telangana, helping to meet the increasing power demand in the southern region and supporting its economic growth. TPCIL has already secured power purchase agreements for 900 megawatts or almost 70% of the plant's capacity, of which 500 megawatts will be sold under a 25-year agreement with the Andhra Pradesh and Telangana Power Distribution Companies.
Sembcorp owns a 65% stake in TPCIL through its wholly-owned subsidiary, Sembcorp Utilities, while Gayatri Energy Ventures, a wholly-owned subsidiary of Gayatri Projects, owns the remaining 35%. Sembcorp is developing its second thermal power project in India: a 1,320-megawatt coal-fired power plant that is targeted to complete in 2016. Sembcorp owns 49% in this second power project. Recently, Sembcorp announced its acquisition of a 60% stake in Green Infra, a renewable energy company in India with 700 megawatts of assets in operation and under development. With these three investments, Sembcorp now has 3,340 megawatts of power capacity in India.
- END -
For media and analysts' queries, please contact:
Media
Melissa Yee (Ms)
Senior Manager
Group Corporate Relations
DID: +65 6723 3326
Email: melissa.yee@sembcorp.com
Analysts
Aleve Co (Ms)
Senior Manager
Group Corporate Relations
DID: +65 6723 3178
Email: aleve.co@sembcorp.com
ABOUT SEMBCORP INDUSTRIES
Sembcorp Industries is a leading energy, water and marine group operating across six continents worldwide. With facilities of almost 7,900 megawatts of gross power capacity and over nine million cubic metres of water per day in operation and under development, Sembcorp is a trusted provider of essential energy and water solutions to both industrial and municipal customers. It is also a world leader in marine and offshore engineering, as well as an established brand name in urban development.
The Group has total assets of over S$17 billion and employs over 8,000 employees. Listed on the main board of the Singapore Exchange, it is a component stock of the Straits Times Index and several MSCI and FTSE indices.
|
distributed by
|
