Singapore‘s Sembcorp Industries Ltd on Monday said it will sell its 100% stake in Sembcorp Energy India Limited (SEIL) to Oman’s Tanweer Infrastructure Pte Ltd for Rs 117 billion.
SEIL, an independent power producer, has two supercritical coal-fired plants totalling 2.6 gigawatts (GW).
Tanweer Infrastructure is indirectly owned by a consortium led by Oman Investment Corporation S.A.O.C. (OIC) in partnership with the Ministry of Defence Pension Fund, Oman, one of Oman’s largest pension funds with significant investments across power and infrastructure, and Dar Investment SPC.
SEIL is one of the leading independent power producers (IPP) in India with a balanced portfolio of thermal and renewable energy assets totalling approximately 4.37 GW capacity in operation and under construction.
Sembcorp Industries is listed on the main board of the Singapore Exchange, SCI is a component stock of the Straits Times Index, several MSCI and FTSE indices, as well as the SGX Sustainability Leaders Index and the Dow Jones Sustainability Asia Pacific Index.