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Sembcorp Forms First Solar Power Project in Singapore
Singapore, Nov 25, 2016
- This will be one of the largest single-location solar energy systems here
Sembcorp Industries (Sembcorp) is pleased to announce its first solar energy project in Singapore, which will provide renewable power to two airfreight terminals near Singapore Changi Airport. This will be one of the largest single-location solar energy systems in the country.
Through wholly-owned subsidiary Sembcorp Utilities, Sembcorp has acquired 49% of Changi Mega Solar, which is developing a 3.6 megawatt grid-tied solar photovoltaic system on the rooftop of SATS Airfreight Terminals 5 and 6 near Singapore Changi Airport. This photovoltaic system will provide renewable power directly to SATS Airfreight Terminals 5 and 6. Currently under construction, the project is nearing completion and expected to start operating at the end of the year, subject to the relevant approvals from the authorities.
This project is Sembcorp&rsquo s first solar energy project in Singapore, where it already has gas-fired, biomass and energy-from-waste projects. With distributed solar energy likely to play a greater role in future energy solutions, this investment reflects the company&rsquo s commitment to providing diverse and innovative solutions to our customers. Worldwide, the company has a power portfolio of over 10,000 megawatts, comprising both thermal and renewable assets. Sembcorp is growing its renewable power business globally and its green energy portfolio includes wind, solar and biomass energy as well as energy-from-waste facilities, spanning Singapore, China, India and the UK.
The total consideration of S$2.6 million will be funded internally. The acquisition is not expected to have a material impact on the earnings per share and net asset value per share of Sembcorp Industries for the financial year ending December 31, 2016.
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For media and analysts&rsquo queries, please contact:
Media
Joya Chang (Ms)
Executive
Group Corporate Relations
DID: +65 6723 3153
Email: [email protected]
Analysts
Aleve Co (Ms)
Senior Manager
Group Corporate Relations
DID: +65 6723 3178
Email: [email protected]
ABOUT SEMBCORP INDUSTRIES
Sembcorp Industries is a leading energy, water, marine and urban development group operating across five continents worldwide. With facilities of over 10,000 megawatts of gross power capacity and close to nine million cubic metres of water per day in operation and under development, Sembcorp is a trusted provider of essential energy and water solutions to both industrial and municipal customers. It is also a world leader in marine and offshore engineering, as well as an established brand name in urban development.
The Group has total assets of S$21 billion and employs over 7,000 employees. Listed on the main board of the Singapore Exchange, it is a component stock of the Straits Times Index and several MSCI and FTSE indices.
- See more at: http://www.sembcorp.com/en/media/media-releases/utilities/2016/november/sembcorp-forms-first-solar-power-project-in-singapore/#sthash.8AI11RqR.dpuf
Bet on utilities to power Sembcorp&rsquo s future growth
SINGAPORE (Nov 23): OCBC is maintaining its &ldquo buy&rdquo call on Sembcorp Industries, the developer, owner and operator of energy and water assets, with a fair value of $3.07, given the group is well-positioned to seize business opportunities with its strong track record.
In a Wednesday report, lead analyst Low Pei Han likes Sembcorp for its strong track record in generating and supplying power, steam and natural gas, and providing total water and wastewater solutions for industries. The group is also known for its strong operational, management and technical capabilities.
&ldquo Sembcorp has grown its operations to 14 countries and looks set to cement its presence in Asia. Though its marine segment is facing headwinds, the longer term outlook for the utilities segment remains positive,&rdquo says Low.
In the near term, Sembcorp is expected to start up more power assets. In 4Q16, unit 3 of its SGPL plant in India is expected to start is commercial operations while unit 4 is expected to be in early 2017. Meanwhile, the plant is working to secure long-term PPAs to add to the the one-year PPAs it has on hand. In China, construction on the 1,320MW Chongqing power plant as gone ahead of schedule, and the first unit is expected to start commercial operations in 4Q16.
Low admits while the marine segment continues to be a risk for the group, the long-term growth prospects of the utilities segment which has exposure to developing markets look good.
&ldquo At current levels, the utilities stub is trading at about 0.7x book, which we feel is unjustified for a division that has in the past five years (and also likely in the future) netted ROEs of between 14-22%,&rsquo says Low.
This is especially so considering the less cyclical nature of the utilities industry, its growing overseas segment and Sembcorp&rsquo s proven ability to develop and execute large-scale greenfield projects, adds the analyst.
Shares of Sembcorp closed 1 cent higher to $2.70.
The biggest risks are :
higher borrowing than before will incur more interest expenses which will translate into lower net profit.
Power plants in India have biggest risk due to political and domestic problems.
SCM will continue to be a big liability to SCI. How to get rid of this ? No easy for the time being.
Coal can last 200 years at least. The price fluctuations are due to seasonal patterns and needs.
SCI main pain point is semb marine and the smelly news swimming around O&G counters.
Plus oil will stay flat lined or low for some time.
SCI is into renewable energy. Do a Google search and you will find gold pots.... lol DYODD probably.😆 😆 😆 😆 😆 😆
Coal price up, will affect their India power plant?
http://www.pfre.sg/solutions/farming/
SCI potential take over rather for the above?
Meaning SCI buy over them? SCI into power tech and power plant energy markets
Trending up with this good news !
serious ( Date: 04-Nov-2016 20:36) Posted:
http://www.channelnewsasia.com/news/business/brazil-could-pay-petrobras-up-to-us-20-billion-over-rights-pape/3262424.html
Brazil could pay Petrobras up to US$20 billion over rights: paper
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http://www.channelnewsasia.com/news/business/brazil-could-pay-petrobras-up-to-us-20-billion-over-rights-pape/3262424.html
Brazil could pay Petrobras up to US$20 billion over rights: paper
Share buy back at 2.531 today .
http://infopub.sgx.com/Apps?A=COW_CorpAnnouncement_Content& B=AnnouncementToday& F=XAKQ6JG8BYTIQ28A& H=738b1c4b76c4e59cb2b8027e89c695f3cf36276528a843c7764045b81471f545
not bad ! most down but this one up .
super up now !
will be upgraded by most analysts with latest results.
Yes, m expecting it...looks weak..poor results n afraid after US election, dow will correct more...huha int hike....
pool100 ( Date: 27-Oct-2016 19:29) Posted:
Technically, the chart for sembcorp is quite bad. It has just broken a key support level of $2.50 level and the next support is at $2.20 level. If break $2.20, next support will be $2.
Trend is down and this is just the beginning.
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but my TA shown it will cross 2.65 and hit 3.00 by year end .
pool100 ( Date: 27-Oct-2016 19:29) Posted:
Technically, the chart for sembcorp is quite bad. It has just broken a key support level of $2.50 level and the next support is at $2.20 level. If break $2.20, next support will be $2.
Trend is down and this is just the beginning.
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Technically, the chart for sembcorp is quite bad. It has just broken a key support level of $2.50 level and the next support is at $2.20 level. If break $2.20, next support will be $2.
Trend is down and this is just the beginning.
Wow what a negative view. Our govt not bad lah. We have enjoyed great growth for many many years. Things are slowing everywhere. Ah kong cannot bail out every company that has poor mangement. Some will have to sink but Sembcorp is ok.
sgng123 ( Date: 27-Oct-2016 18:33) Posted:
Don need to guess the way is down all the way till ah gong decide enough is enough bail out sembcorb at the lowest possible price through SOA. Theme in sgx next year is all about sg gov linked blue chip divestment or delist, we in low growth low oil long time very good time for gov to take back control of transport utility company
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Utilities 9M net profit still down 16% YOY.
The only bright spot is the huge improvement in operating cash flow.
Overall a really poor set of results. Only small bright spark is the utilities but also really nothing to shout about.
I expected about 100m net profits, lower than 3Q last year but never expected such a huge drop to 50+m.
Think we should see $2 soon.
the 20 % net profit increase from utility sector really catch all analysts by surprise .
Sembcorp should seriously consider to divest sembmar and break clean focu on ultility 100% make money even in recession
