Sembcorp's 2028 Renewable Energy Goal Likely on Track With Planned Buy -- Market Talk

Dow Jones
10/10

0303 GMT - Sembcorp Industries' planned purchase of a 300 megawatt solar-power asset in India will likely keep the company on track for its 2028 goal of 25 gigawatt gross renewable-energy installed capacity, says Citi analyst Luis Hilado in a note. The Singapore engineering-services company aims to fully acquire the asset for around S$246 million, with the deal likely to contribute a 10% return on equity for the renewables segment in the long term, the analyst says. The facility could add around 2% to Sembcorp's existing 19.3GW gross capacity, he writes. Hilado projects 23% of Sembcorp's 2028 profit after tax and minority interests will come from the renewables segment, up from the 17% contribution in 2024. Citi maintains its buy rating and S$7.84 target on Sembcorp, which is down 0.15% at S$6.46. (megan.cheah@wsj.com)

 

(END) Dow Jones Newswires

October 09, 2025 23:03 ET (03:03 GMT)

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