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Monday, September 26, 2022

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Sembcorp Gains on Plan to Sell India Coal Power Business

Shares rose as much as 5.1% to the highest on record. Sembcorp, which operates two coal-fired plants in India with a combined capacity of 2.6 gigawatts, said in an exchange filing Monday that the sale of the business will accelerate its shift from ‘brown to green.’ Tanweer, which will become the sole shareholder of the India thermal business, will pay via deferred payment notes issued by Sembcorp, according to the statement.

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