Sembcorp Industries to acquire $700m of wind, solar assets in China

The total gross installed capacity of the assets total 658MW.

Sembcorp Industries announced that it has, through its wholly-owned subsidiary, Sembcorp Energy Shanghai Holding, signed a sale and purchase agreement to acquire a 98% interest in a portfolio of operational wind and solar assets from CGN Capital Partners Infrastructure Fund III and its affiliates. The purchase, net of external debt financing, is approximately worth $700m (RMB 3.3b).

With a total gross installed capacity of 658MW, the portfolio of wind and solar assets will provide Sembcorp with a scalable renewable platform to drive further growth in China. Located in energy demand centres Hebei, Henan, and Shandong provinces, the assets are contracted and are eligible for fixed feed-in tariffs under the China renewable energy policy.

"The acquisition of this renewables growth platform in China is an important step towards our target to have 10GW of gross installed renewables capacity by 2025. We are focused on the execution of our growth strategy across our markets to achieve our brown to green transformation," said Sembcorp Group CEO Wong Kim Yin.

CGN Capital Partners Infrastructure Fund III is an unlisted private equity infrastructure fund focused on renewable energy infrastructure assets in China.

Follow the link s for more news on

solar energy

wind energy

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia