Goodbye India coal plant, hello upsides to Sembcorp after SEIL sale: analyst

The sale will speed up Sembcorp Industries’ decarbonisation targets.

An analyst increased its target price for Sembcorp Industries to $4.78 after the latter sold 100% of its stakes in Sembcorp Energy India Limited (SEIL) to Oman pension-backed Tanweer Infrastructure.

CGS-CIMB, in a report, said the rise in target price stems from Sembcorp Industries’ sale of coal-powered SEIL to accelerate its decarbonisation targets, which is a benchmark in sustainability initiatives.

Sembcorp sold the India firm, which is operating two coal plants totalling 2.6 gigawatts, for over $2.1b. Despite turning over the India energy firm to its “trusted partner,” Sembcorp vowed to support eco-friendly initiatives of SEIL.

“SCI has outperformed the [Straits Times Index] by c.70% year-to-date but we think there is further upside to be reaped given its decarbonisation plans,” said CGS-CIMB.

CGS-CIMB also sees that the divestment of SEIL will not be a “major dent” in Sembcorp Industries’ profits.

Follow the link for more news on

Sembcorp Industries

Also Read

Mooreast subsidiary, NTOU sign MoU for marine energy research

Surbana Jurong and Hyundai partner to develop Small Modular Reactors

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

SBR 5 Lorem Ipsum News 2 [8 May]

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

3 days ago

SBR 4 Lorem Ipsum [8 May Top Stories]

3 days ago

Vibrant Group wins suit against Blackgold Australia

The group shall be paid damages and fees by Blackgold Australia’s ex-CEO and ex-chairman.

Lorem Ipsum text in year 2025

Contrary to popular belief, Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old.

Agribusiness