Sembcorp buys 795 MW solar PV projects in Hebei

Sembcorp Industries has signed share purchase agreements with BEI Energy Development (Beijing) Co., Ltd. for the acquisition of the entire equity interest in three Chinese solar projects with a combined capacity of 795 MW for an initial equity consideration valued at approximately RMB15 million (US$2.1 million) and future capital injections of up to RMB1.15 billion (US$163 million).

The solar assets are installed in the southern portion of Hebei Province and are connected to the State Grid Corporation of China.