November 7, 2024, Geneva (Switzerland), Kuala Lumpur (Malaysia) – STMicroelectronics (NYSE: STM), one of the key players in the semiconductor market, has signed a Power Purchase Agreement (PPA) with BKH Solar Sdn Bhd which is a joint venture company formed by ENGIE Renewable SEA Pte Ltd (ENGIE) and Conextone Energy Sdn Bhd for 21 years.
Under the contract, STMicroelectronics will be supplied with approximately 50 GWh of renewable energy per year from a new solar plant in Kedah, Malaysia to expand ST’s sustainable approach and reach its carbon target by 2027.
Engie is planning to deliver the first energy to the new solar power plant by 2025 as part of Malaysia’s Corporate Green Power Programme. As stated by Geoff West, Senior Vice President and Chief Procurement Officer at ST Now, the Company’s PPA is the first in Asia.
The first For STMicroelectronics, achieving that objective is essential in order to power its operations entirely with renewable energy by 2027. As a result, the initiative greatly enhances the acquisition of renewable energy as well as our carbon neutrality goals for the high-volume test and assembly plant in Johor, Malaysia.
ENGIE’s responsibility for providing green energy strengthens its commitment to the worldwide energy transition
“We stand by ST in its clean energy transition by supplying 50 GWh renewable energy per year,”
Said Amit Jain, Managing Director for India & Southeast Asia at ENGIE and such effort, and explained why we have decided to enter a partnership with ST.
Such undertaking will benefit ST located in Muar, Malaysia, which has over 4700 employees, installed in the facility.
Consequently, the contract represents an important milestone in the development of clean energy in Southeast Asia, where it has highlighted corporate partnership in achieving sustainable development aspirations of the global community.
Source:https://newsroom.st.com/media-center/press-item.html/c3291.html
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