Thermal plant at full steam
Singapore’s Sembcorp Industries Ltd (SCI) continues to maintain its investment pace in India as its power plants pick up steam, with capital expenditure of S$200.65 million or 49% of the total S$410.07 million spending made during the first half of this year.
India has also become a second largest asset base for SCI, totaling S$6.33 billon, or 27% of the total S$22.82 billion. SCI still holds highest assets in home base Singapore at S$9.535 billion or 42% of the total.
In a financial report released 3 Aug 2018, SCI said its second thermal power plant was able to maintain a high load factor to meet high demand.
India is now ranked SCI’s third largest market, having generated a revenue of S$924.76 million or 15% of the total $$6.1 billion for half year ended 30 June 2018.
Comparatively, SCI’s second highest spending was at home base in Singapore at S$144.16 million or 35% of the total.
SCI generated S$2.076 billion or 34% of the total revenue from Singapore and S$1.08 billion or 18% from Rest of Europe for the first six months of this year.
SCI’s half-year group turnover of S$6.1 billion rose by 38.6% over SGD4.4 billion for the same period in 2017.
While utilities performed well, lower marine business volume reduced pre-tax profit by 13.2% to S$204.6 million from S$235.84 million over H1 2017. Net profit was 7.9% lower at S$158.6 million for Jan-June 2018.
Among its latest investments in India, SCI’s subsidiary Sembcorp Energy India Limited (SEIL) has been formally awarded a 300-megawatt wind power project since March this year.
The project is proposed to be in the wind rich western region of Gujarat.
With the 300-MW, SEIL has won a combined capacity of 800-MW from the three national wind power auctions, which is by far the largest combined capacity won by an independent power producer so far.
The company has over 4,000 megawatts of power capacity in operation and under development in India, comprising both thermal and renewable energy assets.
In addition, the wind project also strengthens Sembcorp’s global renewable energy business, which it has been actively growing as part of a balanced portfolio.
SCI has wind, solar and biomass energy as well as energy-from-waste projects in Singapore, China, India and the UK. fiinews.com
