Singapore’s Sembcorp acquires AES power assets in China
Singapore-based Sembcorp Industries has acquired $85.5m power assets in China from American firm AES Corporation.
The acquisition comprises a 49% stake in four wind power assets with total capacity of 247.5MW in Hebei and Inner Mongolia, and a 25% stake in a 2,100MW coal-fired power plant in Shanxi.
"This acquisition not only strengthens our global energy portfolio but also provides a platform to accelerate Sembcorp's growth in the renewable energy sector," said Tang Kin Fei, Sembcorp president and chief executive.
"In addition, we now have our first wind power assets in China, the largest wind power market in the world."