Sembcorp Industries has entered into a share sale agreement along with Pioneer Sail Holdings Limited and Latrobe Valley Power to acquire Alinta Energy, one of Australia’s leading energy retailers and generators, from Chow Tai Fook Enterprises (CTFE) for an enterprise value of A$6.5 billion ($4.3 billion).
Listed on the Singapore Stock Exchange, Sembcorp has an extensive 28.3-gigawatt portfolio of energy-generation assets consisting of renewables, storage and gas assets across 11 countries in the Asia Pacific, the Middle East and Europe. It operates Singapore's largest utility-scale energy storage system and is the largest solar and energy storage player in the country.
Alinta has been 100 percent owned by CTFE since 2017. Under its 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.
CTFE has reinvested more than A$1.1 bi
