Sembcorp Completes Acquisition of Renewable Energy Company, Green Infra, in India
February 13, 2015
Further to its announcement on February 11, 2015 on the signing of agreements to acquire a 60% stake in Green Infra, Sembcorp Industries (Sembcorp) is pleased to announce that it has successfully completed the acquisition. The total consideration for Sembcorp’s stake is Rs 10.6 billion (approximately S$227 million), which is financed by a mixture of internally generated funds and debt financing.
With the completion of the acquisition, Sembcorp now holds 60% of Green Infra, while the remaining 40% is held by IDFC Private Equity Fund III, which is managed by IDFC Alternatives. Sembcorp now has over 1,000 megawatts in renewable energy capacity globally, and a total gross power capacity of almost 7,900 megawatts in operation and under development worldwide.
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, 2015.