Sembcorp acquires stake in wind asset in Tamil Nadu

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Sembcorp acquires stake in wind asset in Tamil Nadu

Sembcorp Green Infra, a subsidiary of Sembcorp Industries, has acquired a 74% stake in the special purpose vehicle (SPV) Mulanur Renewable Energy Private Limited.

The total acquisition cost is INR1,581 million (US$23.65 million) and is financed by Sembcorp Green Infra’s internal funds.

Mulanur Renewable Energy is a wind farm with an operating capacity of 25.5 MW of wind power. It is located in Dindigul District, Tamil Nadu (India). Its remaining 26% stake is held by Group Captive Consumers.

The acquisition is not expected to have a material impact on the earnings per share and net asset value per share of Sembcorp Industries for the financial year ending December 31, 2016.

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