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Sembcorp Signs PPA with Equinix to Supply 58.5 MWp Solar Power in Singapore

Sembcorp Industries' subsidiary, Sembcorp Power, has signed a 15-year renewable energy PPA with Equinix to supply up to 58.5 MWp from its renewable energy portfolio in Singapore, starting in 2029. With this, the total contracted renewable energy capacity with Equinix increases to 133.5 MWp.

December 03, 2024. By Mrinmoy Dey

Sembcorp Industries (Sembcorp) has announced that its wholly-owned subsidiary, Sembcorp Power Pte Ltd. (Sembcorp Power), has signed a long-term renewable energy power purchase agreement (PPA) for a tenure of 15 years with Equinix, Inc. (Equinix) to supply up to 58.5 MWp from its renewable energy portfolio in Singapore, starting in 2029.

The PPA adds to an earlier renewable energy agreement signed with Equinix on April 29, 2024, for a supply of a maximum capacity of 75 MWp. This brings the total contracted renewable energy capacity with Equinix to 133.5 MWp. The increase in capacity strengthens the strategic partnership between Sembcorp and Equinix, underscoring both companies’ commitment to accelerating the transition to a low-carbon future.

Sembcorp is currently the largest solar energy provider in Singapore, with a portfolio of 771 MWp, contributing to over half of Singapore’s 2025 solar energy target, the company claimed in a statement. Through its comprehensive suite of energy solutions, Sembcorp is a leading power provider to data centres in Singapore.

The statement further clarified that the signing of the PPA is in the ordinary course of business and is not expected to have a material impact on the earnings per share and net tangible assets per share of Sembcorp for the year ending December 31, 2024.

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