Sembcorp Solar Singapore Pte. Ltd. reached an agreement to acquire 245MW of operational renewable wind, solar and hydropower assets from GELEX Group Joint Stock Company (HOSE:GEX) for approximately SGD 220 million on November 10, 2023. Sembcorp expects to fund through a mix of internal cash resources and external borrowings, shall be payable at completion.

The transaction is expected to close in first half of 2024 and is subject to regulatory and other approvals.