Sembcorp targets 25GW of installed renewables capacity by 2028

Facebook
Twitter
LinkedIn
Reddit
Email
Singapore-based company Sembcorp will primarily target Asia for the growth of its renewables installed capacity. Image: Sembcorp Industries.

Singapore-based energy company Sembcorp Industries has targeted 25GW of installed renewables capacity by 2028.

In order to reach this target, the company will invest nearly US$10.5 billion towards renewables across Asia – it operates across ten countries – representing 75% of total investments for 2024-2028.

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

At the end of September, the company had 8.7GW of renewables installed capacity – and 3.3GW of projects under construction – up from 2.6GW in 2020, with a target to reach 10GW by 2025.

Mostly present in Asia, Sembcorp has a portfolio in two countries outside the region, with a presence in the UK – with 420MWh of battery storage – and Oman – with 500MW of solar PV – the Singapore-based energy company has a portfolio of solar projects in China (2.3GW), India (1.2GW), Vietnam (207MW), Singapore (473MW) and Indonesia with 2MW. China, India and Southeast Asia will be the key markets for Sembcorp to drive its energy transition targets by 2028.

Moreover, even though wind capacity represents 62% of all installed renewables capacity, and solar 31%, by 2028 solar is expected to be closer to representing half of all renewables.

Since 2021, when the company unveiled its strategic plan towards an energy transition, Sembcorp increased four-fold its gross renewables capacity to 12GW, which represents 61% of its energy portfolio. By 2025, Sembcorp targets to reach 10GW of installed renewables capacity.

In its strategic plan for the next five years – from 2023 to 2028 – the company strengthened its commitment to decarbonisation with a 50% reduction in emissions intensity by 2028.

Wong Kim Yin, group president and CEO of Sembcorp Industries, said: “Our vision is to be a leading renewable energy player in Asia, to drive energy transition and sustainable development. The 2023-2028 strategy provides a clear direction for Sembcorp for the next five years and we are well-positioned to capture tremendous opportunities in the key markets and create value for our stakeholders.”

Read Next

June 5, 2025
Singapore could sit at the “core” of new regional electricity grids in Southeast Asia, according to research from Rystad Energy.
May 29, 2025
Singapore-based engineering firm Sembcorp has received a letter of award from Indian public sector power company SJVN for 150MW of solar power and a 300MWh battery energy storage system (BESS).
May 21, 2025
The US International Trade Commission has voted unanimously to impose AD/CVD tariffs on solar cells from Southeast Asia.
April 8, 2025
South Africa’s government has approved the South African Renewable Energy Master Plan (SAREM) to accelerate renewables deployment.
April 7, 2025
The global tariffs announced by US president Donald Trump last week will have a limited effect on solar imports from Asia, according to a report from BMI.
April 3, 2025
US President Donald Trump has announced sweeping global tariffs on imports to the US, which have heavily impacted major solar PV manufacturing regions.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 17, 2025
Napa, USA
Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
September 16, 2025
Athens, Greece