SEE:Sembcorp Industries appoints SATS chief corporate officer as new group chief financial officer
She also notes that Sembcorp currently has a total solar power capacity of 756 MW which includes 302 MW in Singapore, 435 MW in India, and 17 MW in Vietnam. Sembcorp’s solar capacity in India was boosted by the 400 MW project in Rajasthan, India which it won in January. Overall, Lim is positive on Sembcorp’s strong regional presence in the renewable energy space, with a total portfolio capacity of 3.2 gigawatts spanning solar, wind, and energy storage.
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Her target price of $1.97 remains based on a 2021 P/BV ratio of 1 time. She highlights that Sembcorp currently trades at 0.87 times P/BV, which is cheaper compared to other regional power or utility companies at around 1.6 times As at 12.19pm, shares in Sembcorp are up 1 cent or 0.55% higher at $1.82.