Sembcorp Industries has announced that Thermal Powertech Corporation India (TPCIL), located in Andhra Pradesh, has begun full commercial operation following the completion of its second 660 MW unit. The plan has been operating steadily since April 2015, after the completion of its first 660 MW unit, and has been supplying 500 MW to the Andhra Pradesh and Telangana Power Distribution Companies under a 25 yr power purchases agreement.
Sembcorp owns a 67.4% stake in TPCIL, with Gayatri Energy Ventures owning the remaining 32.6%. The completion of TPCIL is not anticipated to have a material impact on the earnings per share and net asset value per share of Sembcorp Industries for the financial year ending 31 December 2015.
“The successful completion of our first coal-fired power plant investment in India is a significant milestone for Sembcorp. It demonstrates our strong capabilities in developing and executing large-scale greenfield projects. We now look forward to the completion of our second coal-fired power plant in Andhra Pradesh, which is expected in 2016. When fully operational, our two thermal power plants will generate a total of 2640 MW of gross capacity. This will help to meet the increasing power demand in India and particularly the southern states,” commented Tang Kin Fei, Group President and CEO of Sembcorp.
Edited from press release by Angharad Lock
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