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Saint-Gobain, Sembcorp sign long-term green energy supply deal for India units

Reuters
·1-min read
The Sembcorp Marine sign is pictured at the shipyard in Singapore

NEW DELHI (Reuters) - French construction materials giant Saint-Gobain has signed a long-term renewable power supply deal with Singapore-listed Sembcorp for its manufacturing facilities in southern Tamil Nadu state, the companies said on Tuesday.

"Sembcorp will supply 33 MW of locally sourced renewable power to Saint-Gobain's manufacturing facilities in Sriperumbudur, Perundurai and Tiruvallur, over the next 25 years," the companies said in a joint statement.

Under the deal, Sembcorp will supply wind and solar energy to Saint-Gobain through a special purpose vehicle, in which Sembcorp's Indian green energy unit will hold a 74% stake, with the remainder being held by Saint-Gobain, the companies said.

(Reporting by Sudarshan Varadhan; Editing by Kirsten Donovan)