Sembcorp acquires two more rooftop solar facilities in Singapore

Singapore, Jul 11, 2017

- This strengthens the Group’s position as a leading energy player in Singapore and contributes to its growing international renewable energy portfolio

Sembcorp Industries (Sembcorp) is pleased to announce that it has added two operating rooftop solar facilities in Singapore to its global renewable energy portfolio.

Through its wholly-owned subsidiary Sembcorp Utilities, Sembcorp completed its purchase of 100% of Solar C&I Holdings (Solar C&I) for S$3.3 million from REC Solar. The consideration paid was internally funded. Solar C&I owns grid-tied rooftop solar assets located at the premises of Asia Pacific Breweries Singapore (APB) and Stolthaven Singapore (Stolthaven). Already in operation, these assets provide power directly to APB and Stolthaven and have a combined capacity of 2.3 megawatts.

Neil McGregor, Group President and CEO of Sembcorp, said, “The addition of these two new rooftop solar power projects is in line with Sembcorp’s goal to grow solar power capacity through more self-development and acquisition projects, and move into the emerging distributed solar energy market in Singapore. The acquisition will also complement our local electricity generation and retail capabilities in the country.”

“This small but significant acquisition reinforces Sembcorp’s commitment to sustainability and supporting greener energy for Singapore, as the power market here moves towards full retail competition.”

Last year, the company acquired 49% of Changi Mega Solar, the developer of a 3.6 megawatt grid-tied solar energy system on the rooftop of SATS Airfreight Terminals 5 and 6 at Singapore’s Changi Airport. This was one of the largest single-location solar energy systems in the country.

Globally, Sembcorp has over 2,000 megawatts of renewable energy and energy-from-waste capacity in Singapore, China, India and the UK. This includes wind, solar and biomass power assets.

This 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, 2017.

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For analysts’ and media queries, please contact:

Analysts 
Aleve Co (Ms)
Senior Manager
Group Corporate Relations
DID: +65 6723 3178
Email: aleve.co@sembcorp.com

Media
Archanaa N. Raja (Ms) 
Manager
Group Corporate Relations
DID: +65 6723 3186
Email: archanaa.raja@sembcorp.com

ABOUT SEMBCORP INDUSTRIES
Sembcorp Industries is a leading energy, water and marine group operating across five continents worldwide. With facilities of about 11,000 megawatts of gross power capacity and close to 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$22 billion and has around 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.

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