Sembcorp invests in Xingling New Energy

Sembcorp Industries has signed agreements with Wuling Power, a subsidiary of State Power Investment Corporation Limited (SPIC), to acquire a 45.3% stake in Hunan Xingling New Energy for RMB1.058 million (US$152.3 million).

Xingling New Energy will own 830 MW of existing wind and solar capacity and 62 MW under development in Hunan and Guizhou. Wuling Power will own the remaining 54.7% stake.

Sembcorp is a Singaporean company that owns a balanced energy portfolio of over 12.7 GW, with more than 3.2 GW of renewable energy capacity comprising solar, wind, and energy storage globally.