Sembcorp’s India Power Plant Wins Tender to Supply 250MW Power to Bangladesh for 15 Years

India, Aug 20, 2018

Sembcorp Industries (Sembcorp) is pleased to announce that its Sembcorp Gayatri Power Limited (SGPL) power plant in India has won a competitive tender conducted by the Bangladesh Power Development Board (BPDB) to supply 250 megawatts of power to Bangladesh over a total period of 15 years. SGPL has received letters of intent from the BPDB in this regard, and supply of power is expected to commence upon completion of procedural requirements and relevant government approvals.

SGPL is wholly owned by Sembcorp’s India power arm, Sembcorp Energy India Limited (SEIL). Vipul Tuli, Managing Director of SEIL, said, “We are pleased to have emerged as the successful bidder in this tender, and look forward to commence supply of power under a tariff that is competitive for Bangladesh and sustainable for our company. Our participation and success in this bid fits into SEIL’s strategy of providing cost-competitive and reliable power, while prudently contracting our balance open capacity at viable tariffs.”

Sembcorp has been assisting Bangladesh in meeting its pressing need for power. Aside from SEIL’s participation in this tender through SGPL, the Sembcorp Group is also part of a consortium which is constructing the Sirajganj Unit 4 power project in Bangladesh.  This upcoming power plant, which will have a contracted capacity of 426 megawatts, is targeted to begin open-cycle operations later this year and achieve full commercial operations in 2019.

The outcome of the tender is not expected to have a material impact on the earnings per share and net assets per share of Sembcorp Industries for the financial year ending December 31, 2018.

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For analysts’ and media queries, please contact:

Analysts 
Ling Xin Jin (Ms)
Senior Manager 
Group Strategic Communications & Sustainability
DID: +65 6723 3384
Email: ling.xinjin@sembcorp.com 

Media
Fock Siu Ling (Ms) 
Assistant Vice President
Group Strategic Communications & Sustainability
DID: +65 6723 3011
Email: fock.siuling@sembcorp.com

ABOUT SEMBCORP INDUSTRIES
Sembcorp Industries is a leading utilities, marine and urban development group, present across five continents.

As an integrated energy player, Sembcorp is poised to benefit from the global energy transition. With a strong track record in developing and developed markets, the company provides solutions across the energy and utilities value chain, with a focus on the Gas & Power, Renewables & Environment, and Merchant & Retail sectors. It has a balanced energy portfolio of over 12,000 megawatts, including thermal power plants, renewable wind and solar power assets, as well as biomass and energy-from-waste facilities. In addition, Sembcorp is a world leader in offshore and marine engineering, as well as an established brand name in urban development.

Sembcorp Industries has total assets of over S$22 billion and over 7,000 employees. Listed on the main board of the Singapore Exchange, it 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. 

ABOUT SEMBCORP’S ENERGY BUSINESS IN INDIA
India is a key market for the Sembcorp Group’s energy business. Sembcorp’s 93.73%-owned entity, Sembcorp Energy India Limited, is a leading independent power producer in the country. Formerly known as Thermal Powertech Corporation India Limited, Sembcorp Energy India Limited owns 100% of both Sembcorp Gayatri Power Limited and Sembcorp Green Infra Limited, and represents a balanced portfolio of thermal and renewable energy assets totalling 4.37 gigawatts’ capacity.

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