The group is interested in acquiring power projects located preferably in 'mine mouth' areas, said a company spokesperson.
Singapore-based power company Sembcorp on Saturday said it is looking to acquire two power projects, one brownfield and another greenfield, with combined capacity of nearly 1200-megawatts (MW) in the next 12 to 18 months.
According to Atul Nargund, CEO of Sembcorp Gayatri Power Complex, the group is interested in acquiring power projects located preferably in 'mine mouth' areas (where coal mines are located).
"We are looking at a few projects...We are looking at acquiring a Brownfield project and a Greenfield project preferably in mine mouth areas (like Chhattisgarh or Odisha). We will do that in a year or a year-and-half time. We will go for supercritical power projects. So the size would be 1200 MW plus," Nargund told reporters on the sidelines of the launch of company's Power Complex in Nellore on Saturday.
Sembcorp has announced the launch of 2,640 MW Sembcorp Gayatri Power Complex. The Rs 20,000 crore complex houses two 1,320 MW supercritical coal-fired power plants.
The first plant Thermal Powertech Corporation has been completed and commenced full commercial operations in September last year while the other plant, NCC Power Projects, is expected to be fully completed by October this year.
Andhra Pradesh Chief Minister N Chandrababu Naidu, Union Ministers M Venkaiah Naidu, Piyush Goyal, Prakash Javadekar and YS Chowdary, Singapore Trade Minister S Iswaran were among present on the occasion.
To a query, Nargund said Sembcorp's renewable energy portfolio consists of more than 900 MW of the wind and solar power assets in South India.
"The idea is to have 5,000 MW power portfolio in India. So that will be the total investments we may make in the country," Nargund further said.
Tang Kin Fei Sembcorp Group president and CEO, in his address earlier said the Group with its strong track record in both thermal and renewable energy sectors, will continue supporting India in meeting its energy requirements and in reaching its industrialisation and urbanisation goals.
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