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Sembcorp well-positioned for shift to renewables: CGS-CIMB

Atiqah Mokhtar
Atiqah Mokhtar3/15/2021 12:24 PM GMT+08  • 2 min read
Sembcorp well-positioned for shift to renewables: CGS-CIMB
Sembcorp currently has a total renewable energy capacity of 3.2 GW globally spanning solar, wind, and energy storage.
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CGS-CIMB Research has maintained its ‘add’ rating for Sembcorp Industries with an unchanged target price of $1.97 after the company announced it had been awarded with a 60 megawatt-peak (MWp) solar project by the Housing Development Board (HDB) and the Economic Development Board (EDB).

CGS-CIMB analyst Lim Siew Khee notes that the new project boosts Sembcorp’s solar power capacity in Singapore to a total of 362.3 MWp or 302 megawatts (MW), making it the leading solar energy provider in Singapore. In comparison, Sunseap Group’s solar power capacity stands at around 300 MWp (as of May 2020).

SEE:Sembcorp Industries appoints SATS chief corporate officer as new group chief financial officer

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