Sembcorp Secures Long term-PPA With GSK To Supply 10MW1 Electricity

Sembcorp Industries (Sembcorp) today announces that its wholly-owned subsidiary, Sembcorp Power Pte Ltd (Sembcorp Power), has secured long-term power purchase agreements (PPAs) with subsidiaries of global biopharma company, GSK.

Under the PPAs, Sembcorp Power will supply up to 10MW1 of electricity to all three of GSK’s global manufacturing sites in Singapore. Sembcorp will also be supplying up to 87,600MWh of renewable energy certificates annually to GSK from Sembcorp’s solar projects, enabling GSK’s manufacturing operations in Singapore to achieve its 100% purchased renewable electricity target by 2025. The PPAs have tenures of up to 10 years and will commence on January 1, 2025. As a leading renewable energy player in Asia with 14.4GW of global capacity 2
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Sembcorp offers a comprehensive suite of solutions that supports customers in meeting their corporate sustainability goals. The signing of these PPAs is not expected to have a material impact on the earnings per share and net tangible assets per share of Sembcorp for the financial year ending December 31, 2024.