SCIN Business Development Department (BDD) has been actively pursuing new business initiatives. Let’s check out what they have been doing.

Non-binding offer submitted for partnership in a large-scale utility IPP project in India

BDD has been connecting with Hero Future Energy (HFE), a leading power developer in India. HFE has investments from Kohlberg Kravis Roberts & Co (KKR & Co Inc.), International Financial Corporation (IFC), and other large institutional investors. The company is part of Hero Group, one of India’s largest business conglomerates.

HFE has recently won bids for large-scale utility Independent Power Producer (IPP) projects with Solar Energy Corporation of India Limited (SECI), Satluj Jal Vidyut Nigam (SJVN), and National Thermal Power Corporation (NTPC). They are in the process of raising capital for their assets and are looking for strategic partnerships through Nomura. HFE is also in discussion with other Japanese companies like Mitsubishi, Sojitz, and Marubeni.

Following a site visit, extensive discussions and a thorough financial assessment, SC Overseas Energy Business Unit has submitted a Non-Binding Offer to acquire a substantial minority stake in the project.

This project, if executed, will help generate renewable energy which would support the Sumitomo group’s goal of reaching net zero by 2050, and will help tackle the material issue of climate change.

Assessing feasible Pumped Hydro, Hydro and Transmission Line business projects with large Indian conglomerates

SCIN BDD introduced the SC Overseas Energy Business Unit team to several Pumped Hydro and Pumped Storage Plant (PSP) opportunities in India. As a result, during their visit to India, the team connected with major conglomerates like Torrent Power, Tata Power, ACME Solar Holdings, Avaada Group and Jindal South West (JSW Group).

Each company presented their business opportunities to the Overseas Energy Business Unit. In consideration of the significant revenue potential in India and the shift towards Green Energy, the team proceeded with signing several Non-Disclosure Agreements (NDA) with Tata Power, ACME and JSW.

With Tata Power, the discussion transitioned towards transmission line business in India. SC Overseas Energy Business Unit has expressed interest in the business and we are now engaging in high level discussions to evaluate the opportunity.

Electronic Manufacturing and Services office opening in India

The Asia & Oceania Business Development Unit (BDU), SCAO Electronics Business Unit, and Sumitronics are proceeding with their study to establish an EMS (Electronics Manufacturing Services) business in India. This was the result of constant promotion by SCIN BDD to the available opportunity of the Indian electronics market. EY was appointed to conduct a market study and identify potential EMS partners for Sumitronics.

Back in FY2022, Asia and Oceania BDU collaborated with the Electronics Business Unit to conduct a phase 1 EMS study with an external consultant, aiming to understand the overall EMS market in India.

Considering the recent industry movement, SBU identified a promising segment in the Indian market and sought support from Asia and Oceania BDU to conduct a phase 2 study, focusing on the printed circuit board assembly (PCBA) segment in South India, specifically Bengaluru and Chennai area.

In the phase 2 study, we evaluated and shortlisted a few potential EMS players to form strategic partnerships as our entry point into the Indian EMS market.

The team undertook partner visits to India, and parallel discussions are ongoing to establish an office in FY2025.

Further expansion of Industrial Park Business in India

SCIN BDD introduced a business opportunity to SC Industrial Park Business Unit for an upcoming industrial park project in the National Capital Region. The industrial park site is near the new international airport being developed in Noida (in Delhi Capital region).

SCIN BDD and the Industrial Park team visited the site and held discussions with government officials including the CEO of Yamuna Expressway Industrial Development Authority (YEIDA) and the highest-ranking bureaucrat of the state government.

SCIN BDD also introduced Industrial Park team to land parcels in Bengaluru (Southern Indian City), Chennai, Pune and in Andhra Pradesh (Southern Indian State) where there are large clusters of Japanese companies. The team signed a NDA with GMR and Acendas. The team also visited a land parcel in UP promoted by the government. The meeting was attended by the high-ranking officials of the district. Currently we are in the process of evaluating the feasibility and potential of the land parcel.

Hydrogen Development Project with Larsen and Toubro in India

SC signed a Memorandum of Understanding (MoU) with Larsen and Toubro (L&T) on 18 May 2023, for hydrogen development. L&T, a prominent Indian conglomerate, is renowned for constructing significant landmarks such as the Statue of Unity (world’s largest statue), Delhi International Airport, the Qatar World Cup football stadium, and India’s satellite launch vehicle.

Recently, L&T built India’s first electrolyser and commenced small scale hydrogen production. SCIN BDD hosted the SC Hydrogen team on 27-30 April 2025, who visited L&T’s hydrogen production plant at Hazira site in Gujarat. The team toured the on-site R&D facility, observed automated processes, and visited the jetty where products are shipped.

The following day, the team met with L&T at their office to discuss concrete action points and hear about the progress of a proposed project. The visit included a tour of the L&T’s in-house museum, followed by drinks and dinner.

This project has been developed over the last 2 years by SCIN BDD.

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Disclaimer:

This article is intended for internal information sharing among SCAO group members only. Please do not share externally. The projects are still in the early stages of discussions, and we are unsure whether we will proceed further.