Sembcorp Solar Singapore, a wholly-owned subsidiary of Sembcorp Industries, has signed off on a deal to acquire a 40MW grid-tied rooftop solar power project that is currently under construction in Singapore.
As part of this acquisition, Sembcorp has acquired 100% of the equity interest in the project development company, MSOA Pte Ltd.
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Sembcorp’s total investment in the project, which includes the cost to acquire the project development company and future investment to complete the construction of the project, is valued at US$55 million.