Sembcorp

{{short description|Energy and urban development company in Singapore}}

{{About|the Singapore-based company|the China-based manufacturer|SEMCORP Group|}}

{{Infobox company

| name = Sembcorp

| logo = Sembcorp logo.png

| image =

| image_caption =

| type = Public

| traded_as = {{SGX|U96}}

| ISIN = {{ISIN|sl=n|pl=y|SG1R50925390}}

| industry = Utilities

| hq_location = 30 Hill St, Singapore 179360

| key_people = Wong Kim Yin (Group president & CEO)
Graham Cockroft (Group CFO)

| owner = Temasek Holdings

| website = http://www.sembcorp.com

}}

Sembcorp Industries is a Singaporean state-owned energy and urban development company.{{Cite web|title=Sembcorp - Purpose & Values|url=https://www.sembcorp.com/en/about-sembcorp/purpose-values|access-date=2020-09-24|website=www.sembcorp.com}}

Sembcorp's marine division provided a variety of services, including the engineering and construction of offshore platforms for oil extraction, until it was demerged from Sembcorp in 2020 following poor financial performance. Sembcorp currently has an energy portfolio of over 12,600MW, with more than 2,600MW of renewable energy capacity globally. The company also develops raw land into urban developments.

Sembcorp is listed on the main board of the Singapore Exchange.{{Cite web|last=hermesauto|date=2020-08-11|title=Singapore stock watch: Keppel, SIA, Sembcorp, Sembmarine, SGX, Top Glove, Tuan Sing, iFast|url=https://www.straitstimes.com/business/companies-markets/singapore-stock-watch-keppel-sia-sembcorp-sembmarine-sgx-top-glove-tuan|access-date=2020-09-24|website=The Straits Times|language=en}} It is a component stock of the Straits Times Index and sustainability indices including the FTSE4Good Index,{{Cite web|title=FTSE4Good Index Series|url=https://www.ftserussell.com/products/indices/ftse4good|access-date=2020-09-24|website=www.ftserussell.com|language=en}} the Dow Jones Sustainability Asia Pacific Index and the iEdge SG ESG indices.{{Cite web|title=iEdge SG ESG Leaders Index - Singapore Exchange (SGX)|url=https://www.sgx.com/indices/products/esgle|access-date=2020-09-24|website=www.sgx.com|language=en}}

In March 2020, it was announced that Sembcorp was replacing their CEO.{{cite web | url=https://www.sembcorp.com/en/media/media-releases/corporate/2020/march/leadership-succession-at-sembcorp-industries/ | title=Leadership Succession at Sembcorp Industries | access-date=25 September 2020}} Sembcorp did not declare an interim dividend for 1H 2020, instead choosing to defer any decision regarding payment of dividends for the fiscal year 2020 until the end of the year. In June of the same year, trading was halted for Sembcorp as well as Sembcorp Marine, a loss-making subsidiary whose shares had declined by 36% in 2020.{{cite web | access-date=24 September 2020 | url=https://www.oedigital.com/news/479101-halted-shares-of-sembcorp-marine-parent-in-focus-in-singapore | title=Halted Shares of Sembcorp Marine, Parent in Focus in Singapore | date=5 June 2020 | last=Daga | first=Anshuman | website=Offshore Engineer}} Representatives from both companies declined to comment. Between 11 June and 24 July 2020, Sembcorp Industries' share price declined by 11%.{{cite web | access-date=24 September 2020 | url=https://seekingalpha.com/article/4361030-sembcorp-industries-dividend-deferment-demerger-and-ceo-succession-draw-attention | title=SembCorp Industries: Dividend Deferment, Demerger And CEO Succession Draw Attention | date=27 July 2020 | website=Seeking Alpha}}

Singapore

Sembcorp owns and operates the largest NEWater plant{{Cite web|title=Sembcorp NEWater Plant at Changi {{!}} Reclaimed Water Project|url=https://www.bv.com/projects/sembcorp-newater-plant-changi-reclaimed-water-project|access-date=2020-09-24|website=Black & Veatch|language=en}} in Singapore, and provides solid waste management services.

It is the only established power gentailer (generation-affiliated retailer) in Singapore to offer renewable energy.{{Cite web|title=Sembcorp to install more than 20,000 solar panels for SIA facilities|url=https://www.channelnewsasia.com/news/business/sembcorp-sia-deal-build-20000-solar-panels-12426992|access-date=2020-09-24|website=CNA|language=en}} Sembcorp also has 250MWp of renewable energy capacity in operation and under development.{{Cite web|title=Sembcorp wins mega tender to build solar panels on 848 HDB blocks, 27 government sites|url=https://www.channelnewsasia.com/news/singapore/sembcorp-wins-mega-tender-to-build-solar-panels-on-848-hdb-10464138|access-date=2020-09-24|website=CNA|language=en}}

China

Sembcorp operates power generation, industrial water and wastewater treatment facilities, and sustainable urban developments.

Sembcorp is an investor in the China-Singapore Suzhou Industrial Park, Wuxi-Singapore Industrial Park,{{Cite web|last=hermesauto|date=2019-09-27|title=Singapore and China ink 16 deals in eastern Jiangsu province|url=https://www.straitstimes.com/asia/east-asia/singapore-and-china-ink-16-deals-in-eastern-jiangsu-province|access-date=2020-09-24|website=The Straits Times|language=en}} International Water Hub{{Cite web|title=国际水务中心|url=http://niwh.com/articles/title/IWH%C3%A7%C2%AE%C2%80%C3%A4%C2%BB%C2%8B|access-date=2020-09-24|website=niwh.com}} and Singapore-Sichuan Hi-tech Innovation Park.{{Cite web|title=Singapore and China express commitment to keeping supply chains, trade lines open amid COVID-19|url=https://www.channelnewsasia.com/news/singapore/singapore-china-mti-covid-19-trade-supply-chains-12966876|access-date=2020-09-24|website=CNA|language=en}}

In November 2023, Sembcorp announced it would acquire 200 MW of operational wind power assets from Qinzhou Yuanneng for S$130 million.{{Cite web |date=2023-11-27 |title=Sembcorp to acquire 428 MW wind assets in India, China |url=https://www.moneycontrol.com/news/business/markets/sembcorp-to-acquire-428-mw-wind-assets-in-india-china-11816971.html |access-date=2023-11-27 |website=Moneycontrol |language=en}}

India

Despite their commitment to renewable energy in China and Singapore, Sembcorp constructed a 1,320-megawatt supercritical coal-fired power plant in Andhra Pradesh.{{Cite web|last=hermes|date=2016-02-27|title=Sembcorp opening $4 billion India power complex|url=https://www.straitstimes.com/business/companies-markets/sembcorp-opening-4-billion-india-power-complex|access-date=2020-09-24|website=The Straits Times|language=en}} In 2015, they acquired a wind and solar power company, Green Infra.{{Cite web|title=Sembcorp wins second Indian wind power project|url=https://www.channelnewsasia.com/news/business/sembcorp-wins-second-indian-wind-power-project-9401976|access-date=2020-09-24|website=CNA|language=en}} In 2016, Sembcorp launched a $3 billion, 2,640-megawatt power complex in Andhra Pradesh. In 2020, Sembcorp commemorated the completion of 800MW of Solar Energy Corporation of India wind power projects.{{Cite web|last=Thomas|first=Tanya|date=2020-07-29|title=Sembcorp completes 800MW of SECI wind power projects|url=https://www.livemint.com/industry/energy/sembcorp-completes-800mw-of-seci-wind-power-projects-11596024978746.html|access-date=2020-09-24|website=mint|language=en}} In November 2023, Sembcorp announced it would acquire 228 MW of operational wind power assets from Leap Green Energy Pvt Ltd for S$70 million.{{Cite web |date=2023-11-27 |title=Sembcorp to acquire 428 MW wind assets in India, China |url=https://www.moneycontrol.com/news/business/markets/sembcorp-to-acquire-428-mw-wind-assets-in-india-china-11816971.html |access-date=2023-11-27 |website=Moneycontrol |language=en}}

United Kingdom

In 2003, Sembcorp acquired a centralised utilities business at Wilton International, Teesside, UK. In 2018, Sembcorp acquired UK Power Reserve, the UK’s largest flexible distributed energy generator.{{Cite web|last=hermes|date=2018-06-01|title=Sembcorp buys UK Power Reserve for $385m|url=https://www.straitstimes.com/business/companies-markets/sembcorp-buys-uk-power-reserve-for-385m|access-date=2020-09-24|website=The Straits Times|language=en}}

Myanmar

In 2015, Sembcorp pivoted away from renewable energy investments, beginning the development of a 225-megawatt gas-fired power plant (the Sembcorp Myingyan Power Plant) which officially opened in 2019. However, solar power generation was integrated into the plant.{{Cite web|last=hermes|date=2019-03-18|title=Sembcorp fires up Myanmar power plant|url=https://www.straitstimes.com/business/sembcorp-fires-up-myanmar-power-plant|access-date=2020-09-24|website=The Straits Times|language=en}}

Oman

In 2009, Sembcorp won a project to develop the US$1 billion Salalah Independent Water and Power Plant.{{Cite web|last=migration|date=2013-09-26|title=Sembcorp Salalah Power & Water Company's initial public offering fully taken up|url=https://www.straitstimes.com/business/sembcorp-salalah-power-water-companys-initial-public-offering-fully-taken-up|access-date=2020-09-25|website=The Straits Times|language=en}}

United Arab Emirates

In 2006, Sembcorp started work on the Fujairah 1 Independent Water and Power Plant, a 893 MW and 130 million imperial gallons per day hybrid desalination plans.{{Cite web|last=migration|date=2013-09-26|title=Sembcorp Salalah Power & Water Company's initial public offering fully taken up|url=https://www.straitstimes.com/business/sembcorp-salalah-power-water-companys-initial-public-offering-fully-taken-up|access-date=2020-09-24|website=The Straits Times|language=en}}

Vietnam

In 1996, the first Vietnam Singapore Industrial Park (VSIP) was established in Binh Duong province in southern Vietnam. In 2001, Sembcorp made an investment to develop the Phu My 3 independent power plant. In 2005, Sembcorp expanded its presence in southern Vietnam with VSIP Binh Duong II. In 2007, Sembcorp began a third VSIP project, VSIP Bac Ninh. In 2009, Sembcorp entered a joint venture agreement for its fourth VISP project, VSIP Hai Phong, also an integrated township and industrial park. In 2012, Sembcorp signed an agreement for a fifth project in Vietnam, VSIP Quang Ngai, and in 2015, their sixth and seventh VSIPs - VSIP Hai Duong and VSIP Nghe An.{{Cite web|last=hermes|date=2015-09-17|title=7th Vietnam-S'pore industrial park takes off|url=https://www.straitstimes.com/business/property/7th-vietnam-spore-industrial-park-takes-off|access-date=2020-09-24|website=The Straits Times|language=en}} In 2019, Sembcorp signed a joint venture agreement with Becamex IDC Corporation and VSIP.{{Cite web|last=hermes|date=2019-09-25|title=Sembcorp unit in tie-up to bring smart energy solutions to Vietnam|url=https://www.straitstimes.com/business/companies-markets/sembcorp-unit-in-tie-up-to-bring-smart-energy-solutions-to-vietnam|access-date=2020-09-24|website=The Straits Times|language=en}}

Bangladesh

In 2019, Sirajganj Unit 4 combined-cycle gas turbine power plant, Sembcorp’s first thermal power plant in Bangladesh, commenced full commercial operation.{{Cite web|title=Sembcorp's first thermal power plant in Bangladesh begins full operation|url=https://energy.economictimes.indiatimes.com/news/power/sembcorps-first-thermal-power-plant-in-bangladesh-begins-full-operation/69561524|access-date=2020-09-25|website=ET EnergyWorld|language=en}}

Indonesia

Sembcorp was appointed by the Singapore government in the 1990s to develop its first bilateral special economic zones, the 320-hectare Batamindo Industrial Park, on the Riau Island of Batam, and the 270-hectare Bintan Industrial Estate, on Bintan Island. Sembcorp is now developing the Kendal Industrial Park in Central Java.{{Cite web|last=hermes|date=2018-02-20|title=S'pore invited to develop 3 Indonesian zones|url=https://www.straitstimes.com/asia/se-asia/spore-invited-to-develop-3-indonesian-zones|access-date=2020-09-25|website=The Straits Times|language=en}}