PROJECT

Projects

Summary of Investment Information

Project Number

45547

Company Name

SEMBCORP FINANCIAL SERVICES PTE. LTD.

Date SPI Disclosed

Sep 29, 2021

Country

Singapore

Region

East Asia and the Pacific

Projected Board Date

Sep 13, 2021

Environmental Category

B - Limited

Status

Active

Last Updated Date

Oct 8, 2021

Department

Regional Industry - INF Asia & Pac

Industry

Infrastructure

Previous Events

Approved : Sep 10, 2021
Signed : Sep 27, 2021
Invested : Oct 6, 2021

Sector

Renewable Energy Holding Companies

Additional Project Attributes

Public-Private Partnerships

Project Description

Sembcorp Industries Limited (Sembcorp - https://www.sembcorp.com/en) is a leading energy and urban solutions provider listed on Singapore stock exchange. Headquartered in Singapore and with operations across 11 countries, Sembcorp has three business segments: renewable energy, conventional energy and sustainable solutions, which comprise urban development, water and waste. Sembcorp has been proactively shifting its energy portfolio to renewable energy over the past few years. As of June 2021, it has a global capacity of more than 3,300 MW in renewable energy comprising solar, wind, and energy storage. This includes 2,419 MW of wind plants in China and India, 784 MW of solar plants in India, Singapore, and Vietnam, as well as 120 MW of energy storage assets in the UK. Sembcorp has committed to a climate action plan to significantly reduce its GHG emissions by 2030 and achieve net-zero emissions by 2050.

 

IFC will make an anchor investment of up to SGD 150 million in a proposed up to 10.5-year senior unsecured sustainability-linked bond (“SLB”) issued by Sembcorp Financial Services Pte. Ltd. that will be fully guaranteed by Sembcorp (the “Project”). This will be Sembcorp’s first SLB.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation