Sembcorp Forms First Solar Power Project in Singapore

Singapore, Nov 25, 2016

- This will be one of the largest single-location solar energy systems here

Sembcorp Industries (Sembcorp) is pleased to announce its first solar energy project in Singapore, which will provide renewable power to two airfreight terminals near Singapore Changi Airport. This will be one of the largest single-location solar energy systems in the country.

Through wholly-owned subsidiary Sembcorp Utilities, Sembcorp has acquired 49% of Changi Mega Solar, which is developing a 3.6 megawatt grid-tied solar photovoltaic system on the rooftop of SATS Airfreight Terminals 5 and 6 near Singapore Changi Airport. This photovoltaic system will provide renewable power directly to SATS Airfreight Terminals 5 and 6. Currently under construction, the project is nearing completion and expected to start operating at the end of the year, subject to the relevant approvals from the authorities.

This project is Sembcorp’s first solar energy project in Singapore, where it already has gas-fired, biomass and energy-from-waste projects. With distributed solar energy likely to play a greater role in future energy solutions, this investment reflects the company’s commitment to providing diverse and innovative solutions to our customers. Worldwide, the company has a power portfolio of over 10,000 megawatts, comprising both thermal and renewable assets. Sembcorp is growing its renewable power business globally and its green energy portfolio includes wind, solar and biomass energy as well as energy-from-waste facilities, spanning Singapore, China, India and the UK.

The total consideration of S$2.6 million will be funded internally. 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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For media and analysts’ queries, please contact:

Joya Chang (Ms)
Group Corporate Relations
DID: +65 6723 3153

Aleve Co (Ms)
Senior Manager
Group Corporate Relations
DID: +65 6723 3178

Sembcorp Industries is a leading energy, water, marine and urban development group operating across five continents worldwide. With facilities of over 10,000 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 S$21 billion and employs over 7,000 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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