Singapore-based energy solutions provider Sembcorp Industries (Sembcorp) has revealed plans to develop a new multi-utilities centre which will include a 600 MW hydrogen-ready power plant on Jurong Island.
According to Sembcorp, the new multi-utilities centre will supply power, steam, firewater and demineralised water to customers. The construction is scheduled to commence in the second half of 2023 and the centre is expected to be fully operational by 2026.
Furthermore, this facility will include a new 600MW hydrogen-ready power plant. Sembcorp Cogen Pte Ltd, a wholly-owned subsidiary of Sembcorp, has awarded the consortium of Mitsubishi Power Asia Pacific Pte Ltd and Jurong Engineering Limited a turnkey contract for the development of the power plant.
Mitsubishi Power has also been awarded a long-term service agreement for the maintenance of the power plant.
The cost of the development of the multi-utilities centre is estimated at S$900 million and is expected to be financed through a mix of internal cash resources and external bank borrowings.
The project is not expected to have any material impact on the earnings per share and net tangible assets per share of Sembcorp for the financial year ending December 31, 2023, the company said.