- Sembcorp Industries (SCI) announced the acquisition of 390MW of net solar assets in China and a portfolio of 583MW of solar and wind assets in India.
- On a gross installed capacity basis, this would increase the company’s capacity from 7.2GW to 8.5GW which is not far from its 2025 target of 10 GW.
- SCI disclosed that these assets were bought at “low teens PE multiples” which we view as fair.
Excerpts from UOBKayHian report
Sembcorp Industries (SGX: U96)