Sembcorp Industries has announced the completion its $85.5m acquisition of power assets in China from US-based AES Corporation.

The acquisition comprises a 49 per cent stake in four wind power assets with total capacity of 247.5 MW in Inner Mongolia and Hebei, as well as a 25 per cent stake in a 2100 MW coal-fired power plant in Shanxi.
Mergers and acquisitions
Energy Business Review reports Sembcorp president and CEO Tang Kin Fei saying “This acquisition not only strengthens our global energy portfolio but also provides a platform to accelerate Sembcorp’s growth in the renewable energy sector.”

The transaction is expected to increase Sembcorp’s presence in China.

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