Sembcorp Signs Long-Term Power Purchase Agreements with GSK

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

Under these agreements, Sembcorp Power will supply up to 10 MW of electricity to all three of GSK’s global manufacturing sites in Singapore. Additionally, Sembcorp will provide up to 87,600 MWh of renewable energy certificates annually from its solar projects, helping GSK meet its goal of sourcing 100% renewable electricity for its Singapore operations by 2025. The PPAs, which have tenures of up to 10 years, are set to commence on January 1, 2025.

As a leading renewable energy provider in Asia with 14.4 GW of global capacity, Sembcorp offers a comprehensive suite of solutions to support customers in achieving their sustainability objectives.

Sembcorp stated that the signing of these PPAs is not expected to have a material impact on its earnings per share or net tangible assets per share for the financial year ending December 31, 2024.