Sembcorp bags PPAs, RECs deal for solar with GSK in Singapore

Singapore’s Sembcorp Industries Ltd (SGX:U96) is set to supply up to 10 MW of power and renewable energy certificates (RECs) from its solar projects to global biopharma group GSK Plc (LON:GSK) for its operations in the Southeast Asian city-state.

The Singaporean energy group said on Thursday that its wholly-owned unit Sembcorp Power Pte Ltd signed long-term power purchase agreements (PPAs) with GSK subsidiaries to provide the service.

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These PPAs will see Sembcorp Power supply up to 10 MW of electricity, equivalent to 87,600 MWh per year, to all three GSK manufacturing sites in Singapore. GSK will also receive up to 87,600 MWh of RECs annually from Sembcorp’s solar projects to ensure its manufacturing operations in Singapore reach the 100% purchased renewable power target by 2025, Sembcorp said.

The PPAs, which will have a duration of up to ten years, will commence on January 1, 2025.