Singaporean state-owned energy company Sembcorp Industries will acquire Alinta Energy under a share sale agreement with Pioneer Sail Holdings Limited and Latrobe Valley Power for $6.5 billion.
The acquisition combines Alinta’s local market expertise with Sembcorp’s global renewables capability, providing Sembcorp with an established platform to accelerate renewables growth in Australia.
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Alinta has been 100% owned by CTFE since 2017. Under CTFE ownership, Alinta has maintained a portfolio of highly reliable and well-maintained generation assets which has successfully positioned the company to respond to a transitioning energy market.
Alinta has a portfolio of high-quality, efficient generation assets with one of the highest dispatchable portfolio availabilities at 93%. Its 10.4GW development pipeline of renewables and firming systems supports Australia’s energy transition and energy security objectives.
Australia is a key market for Sembcorp’s ambition to grow its renewables capacity to 25GW by 2028, building on the more than $5.9 billion the company has invested in renewable energy projects globally.
Sembcorp president and CEO renewables east Alex Tan said, “Australia is a well-established and forward-looking energy market, and this acquisition strengthens our presence in a key developed market while providing a scalable platform for Sembcorp to accelerate renewables and low-carbon growth.
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“By combining Sembcorp’s global renewables expertise and access to capital with Alinta’s strong local workforce and project pipeline, we believe we can contribute meaningfully to Australia’s decarbonisation goals and support long-term employment opportunities in local communities.
“We remain committed to operating responsibly and sustainably, working closely with government, communities, and Alinta’s experienced management team to deliver a transition that meets national and stakeholder needs.”
