Oman Investment-backed Tanweer Infrastructure to acquire Sembcorp Energy India from Sembcorp Industries for $1.5bn.

Oman Investment-backed Tanweer Infrastructure, owned by a consortium led by Oman Investment in partnership with the Ministry of Defence Pension Fund, agreed to acquire Sembcorp Energy India, one of the largest independent power producers in India, from Sembcorp Industries, a Singaporean utility firm, for $1.5bn. "The sale of SEIL accelerates the transformation of Sembcorp’s portfolio from brown to green, while protecting the interests of all stakeholders. OIC is a trusted and reliable long-term partner, and we are confident SEIL will continue to provide reliable services to its power distribution customers, as well as maintain stability of relationships with suppliers, communities and employees. The innovative GHG emissions intensity reduction incentive rate also underscores our commitment to sustainable energy transition," Wong Kim Yin, Sembcorp President and CEO.