The hydropower import project is signed between Sembcorp Utilities and Sarawak Energy Services and Prysmian.

Sembcorp Industries (Sembcorp) plans to import up to 1 gigawatt (GW) of green electricity through the signing of an agreement between its subsidiary Sembcorp Utilities and Sarawak Energy Services with Prysmian. 

This preferred supplier agreement will see the design, installation methodology and protection requirements for a subsea interconnector cable worked on with Prysmian.

Prysmian is a high-voltage submarine and underground cable system company. Sarawak Energy Services is a subsidiary of Sarawak Energy, Malaysia’s largest renewable energy developer. 

The company says that the signing of the agreement is not expected to have any material impact on the earnings per share and the net tangible assets per share of Sembcorp for the financial year ending Dec 31, 2025. 

The power import will be subject to various regulatory approvals.

Shares in Sembcorp closed 5 cents lower or 0.806% down at $6.15 on March 19.