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.
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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