From: Mercom India
Singapore-headquartered Sembcorp Industries has completed its previously announced acquisition of Australia-based Alinta Energy for an enterprise value of A$6.5 billion (~$4.3 billion) from Chow Tai Fook Enterprises.
Sembcorp, an energy and urban solutions company, completed the transaction through its indirect wholly owned subsidiaries, Sembcorp Energy Australia and Sembcorp Energy Australia. The subsidiaries acquired shares in Pioneer Sail Holdings and Latrobe Valley Power.
The transaction gives Sembcorp a 100% stake in Alinta Energy. Sembcorp had announced the acquisition on December 11, 2025. Chow Tai Fook Enterprises has owned Alinta since 2017.
Alinta Energy is an Australian-based electricity and gas company. Its portfolio includes 3.4 GW of operating assets and a 10.4 GW development pipeline.
The company’s development pipeline also features projects in wind, batteries, and hydro storage, including a 100 MW battery at Wagerup, the 1 GW+ Spinifex offshore wind farm, and the 900 MW Oven Mountain pumped hydro project.
The acquisition expands Sembcorp’s presence in Australia through Alinta’s existing operations and development pipeline. With the acquisition completed, Sembcorp will integrate Alinta’s platform in Australia with its global energy capabilities.
Sembcorp will retain Alinta’s management team, led by Managing Director and Chief Executive Officer Jeff Dimery.
In April of this year, Alinta started construction on Stage 1 of the 250 MW/1,000 MWh Reeves Plains Energy Hub. The project is Alinta Energy’s third battery storage project, following its Newman and Wagerup projects. The project is scheduled for completion in 2028.
Alinta will continue to operate under its existing brand and operating structure. Sembcorp said the arrangement is intended to provide continuity for Alinta’s stakeholders, including more than 1,000 employees, about 1.1 million customers, and partners across Australia.
According to Mercom’s recently released Q1 2026 Energy Storage Funding and M&A report, energy storage corporate M&A activity increased with seven companies acquired in Q1 2026 compared to one in Q1 2025. Transactions were spread across the value chain, including downstream platforms, battery technologies, and materials, reflecting growing interest across the sector.
In January, ICG, the global alternative asset manager, announced that its Asia-Pacific Infrastructure team acquired a majority stake in Ray8 Energy, a Japan-based developer, owner, and operator of battery energy storage system (BESS) projects.
