Sembcorp ups its stakes in renewable energy business
Its utilities segment subscribed to a rights issuance.
Sembcorp Industries announced that its utilities segment has subscribed to an entire rights issuance by Sembcorp Green Infra to fund the company’s growth in the renewable sector in India.
According to the group, the total investment in the rights issuance of approximately $21.4m.
This was financed through internal funds.
As a result of the partner’s non-participation in the rights issuance exercise, Sembcorp Utilities’ stake in Sembcorp Green Infra has increased to approximately 72%.