Sembcorp acquires 100% stake in GIP-backed Vector Green for Rs 2,780 cr

Sembcorp acquires 100% stake in GIP-backed Vector Green for Rs 2,780 cr

Vector has a total portfolio of 583 Mw across 13 states; deal will take Sembcorp’s gross renewable assets in India to 3 Gw

Singapore-listed utility company Sembcorp Industries said it will acquire clean energy platform Vector Green Energy for Rs 2,780 crore to expand its renewable energy footprint in India to 3 gigawatts (Gw).

The portfolio includes 495 megawatt (MW) of solar capacity and 24MW of wind capacity in operation, with 64MW of solar projects under development. With this cquisition, Sembcorp’s gross renewables portfolio installed and under development in India will touch 3 gigawatt (GW), comprising 1GW of solar assets and 2GW of wind assets, said the company.

AZB & Partners advised India Infrastructure Fund II in the deal. The AZB & Partners team comprised of Co-founder & Managing Partner Zia Mody and Partners Atreya Bhattacharya and Aditya Periwal.

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