Sembcorp Industries (Sembcorp), through its wholly-owned subsidiary Sembcorp Power Pte Ltd, has signed a supply agreement with Tenaga Nasional Berhad (TNB) will import 50 MW of renewable energy issued with Renewable Energy Certificates (RECs) from Peninsular Malaysia to Singapore using existing infrastructure.
This is part of Malaysia’s inaugural pilot supply of green electricity for cross-border energy trading via the Energy Exchange Malaysia platform. The two-year agreement, starting in December 2024, will be the first-ever renewable energy import with RECs into Singapore. The RECs provide proof of origin of renewable energy generation, ensuring that the energy is sustainably sourced.
The signing of the supply agreement with TNB is not expected to have any material impact on the earnings per share and net tangible asset per share of Sembcorp for the financial year ending December 31, 2024.
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