Sembcorp Secures Approval for Singapore’s First 24/7 Renewable Energy Import
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Sembcorp Industries has received conditional approval from Singapore’s Energy Market Authority to import 1GW of renewable energy from Sarawak, marking Singapore’s first large-scale 24/7 renewable energy import project, expected to start by 2035. The project will primarily use hydropower and aims to enhance regional energy cooperation. The current analyst rating for Sembcorp's stock (SG:U96) is a Hold with a price target of S$6.50, and the company has a market cap of S$11.26B.
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