Home / Business and Economy / Sembcorp Buys Alinta Energy in $4.32bn Australian Deal
Sembcorp Buys Alinta Energy in $4.32bn Australian Deal
13 Dec
Summary
- Sembcorp acquires Alinta Energy for A$6.5bn ($4.32bn) from CTFE.
- Alinta provides energy to nearly 1.1 million customers nationwide.
- The deal accelerates Sembcorp's 25GW renewable capacity target by 2028.
Sembcorp Industries, based in Singapore, has announced its acquisition of Australia's integrated energy provider, Alinta Energy. This significant deal, valued at A$6.5 billion ($4.32 billion) via a share sale agreement with Hong Kong's Chow Tai Fook Enterprises (CTFE), aims to expand Sembcorp's worldwide renewable energy portfolio and solidify its position in the Australian market.
Alinta Energy brings a substantial operational footprint, boasting 3.4GW of installed and contracted generation capacity across diverse sources like coal, gas, wind, and solar. The company currently supplies electricity and gas to approximately 1.1 million customers nationwide, making it a leading energy retailer and generator in Australia since CTFE's acquisition in 2017.
This acquisition is poised to accelerate Sembcorp's ambitious target of achieving 25GW of renewable capacity by 2028, with Australia identified as a key growth market. Alinta's robust pipeline of 10.4GW in renewables and firming projects aligns with Australia's energy transition goals, promising to deliver affordable, reliable power while advancing decarbonization efforts.
