Sembcorp secures 559MW of Indian solar assets with acquisition of Vector Green Energy

Facebook
Twitter
LinkedIn
Reddit
Email
A 60MW floating solar project built by Sembcorp in Singapore. Image: Sembcorp Industries.

A wholly owned subsidiary of Singapore-based energy company Sembcorp Industries has secured a deal to acquire Indian independent power producer Vector Green Energy.

Sembcorp Green Infra has signed an agreement with a fund managed by Global Infrastructure Partners India to buy 100% of Vector Green for a base equity consideration of approximately INR27.8 billion (US$342 million).

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

With renewables power generation assets in 13 Indian states, Vector Green’s portfolio includes 495MW of solar capacity and 24MW of wind capacity in operation as well as 64MW of PV projects under development.

The acquisition will see Sembcorp’s portfolio of installed or under-development solar assets in India reach 1GW.

Sembcorp said that with the completion of the deal, which is expected to take place in Q1 2023, its gross renewables capacity will reach 8.5GW, putting the company closer to its target of having 10GW by 2025.

“This acquisition brings significant utility-scale solar capacity to our India business, which will complement our existing wind portfolio,” said Vipul Tuli, CEO of South Asia at Sembcorp Industries.

Sembcorp is jointly developing a pipeline of up to 1.5GW of solar and wind projects in Vietnam as part of an agreement signed last year with Bamboo Capital Group.

Last year, Sembcorp also completed a 60MW floating solar plant on a reservoir in Singapore. Featuring 12,556 Trina Solar modules, the Tengeh Reservoir project has a 25-year power purchase agreement in place with Singapore’s national water agency PUB.

The company is part of a consortium that plans to develop a 1GWp solar project in Indonesia that would export power to Singapore under a policy from the city-state that aims to support the import of up to 4GW of low-carbon electricity by 2035.

Read Next

July 1, 2025
Spanish independent power producer (IPP) Zelestra has secured financing and reached financial close for its 220MW solar-plus-storage plant in Chile.
July 1, 2025
French private equity firm Ardian Clean Energy Evergreen Fund (ACEEF) has bought 117 solar PV plants, worth 116MW of total capacity in several locations in Italy.
July 1, 2025
Swedish independent power producer (IPP) OX2 has begun operations at a 100MW solar PV plant in Poland, its first project as an IPP.
June 27, 2025
Indian solar manufacturer Premier Energies has commissioned its 1.2GW TOPCon solar cell manufacturing line at Fab City, Hyderabad, Telangana.
June 26, 2025
ACEN has partnered with UPC Renewables to build two renewable projects in Rajasthan and Karnataka, India. 
June 25, 2025
Emmvee has secured INR15 billion (US$174 million) order for TOPCon bifacial solar modules from KPI Green Energy. 

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
July 2, 2025
Bangkok, Thailand
Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA