- Sembcorp’s first wind power assets, a significant milestone in its strategy to grow its renewable energy capabilities
SINGAPORE, May 7, 2012 – Sembcorp Industries (Sembcorp) today announces that its wholly-owned subsidiary, Sembcorp Utilities, has signed a sale and purchase agreement with The AES Corporation (AES) to acquire part of its power asset portfolio in China for US$85.5 million (equivalent to approximately S$106.7 million).
The acquisition includes a 49% stake in four wind power assets owned through AES Huanghua, AES Hulunbeier Wind Power Co., AES Xinba’erhu Wind Power Co. and AES Chenba’erhu Wind Power Co., as well as a 25% stake in a coal-fired power plant owned through AES China Corp. The AES Corporation is a global power company listed on the New York Stock Exchange (NYSE: AES).
Commenting on the transaction, Tang Kin Fei, Group President & CEO of Sembcorp, said, “This acquisition strengthens our global energy portfolio and provides a platform to accelerate Sembcorp’s growth in the renewable energy sector. As a responsible energy player, Sembcorp aims to have a portfolio of high efficiency thermal and renewable power generation assets including a growing component of low carbon capacity. With this acquisition, our renewable energy capabilities will now include wind in addition to biomass.
Los Angeles DA Condemns ‘Extremely Disturbing’ Sean ‘Diddy’ Combs Video—But
Won’t Bring Charges. Here’s Why.
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ToplineThe Los Angeles County Attorney’s Office said it is aware of a
widely circulated video depicting rapper and hip-hop mogul Sean “Diddy”
Combs attacki...
2 hours ago
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