Sembcorp Solar Singapore, a wholly-owned subsidiary of Sembcorp Industries, has signed off on a deal to acquire a 40MW grid-tied rooftop solar power project that is currently under construction in Singapore.

As part of this acquisition, Sembcorp has acquired 100% of the equity interest in the project development company, MSOA Pte Ltd.

Sembcorp’s total investment in the project, which includes the cost to acquire the project development company and future investment to complete the construction of the project, is valued at US$55 million.