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Nov 12, 2024 12:47 CESTGeneva-based chipmaker STMicroelectronics (BIT:STMMI) has signed a long-term power purchase agreement (PPA) with a Malaysian joint venture of French power utility Engie SA (EPA:ENGI) to source about 50 GWh a year from a new solar farm in the Asian country, the parties said today.
The power will be supplied from a new 30-MW photovoltaic (PV) project in Bukit Kayu Hitam, Kedah.
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The 21-year deal is with BKH Solar Sdn Bhd, a joint entity of Engie Renewable SEA Pte Ltd and Malaysian solar developer Conextone Energy Sdn Bhd. It is STMicroelectronics’ first long-term PPA in Asia and supports the company’s goal of becoming carbon neutral in its operations by 2027, including 100% renewable energy sourcing by that year.
“Starting in 2025, this PPA with Engie will provide a significant level of renewable energy for ST’s operations in our high-volume test and assembly site in Muar, Johor, Malaysia,” said Geoff West, EVP and chief procurement officer at STMicroelectronics.
The PPA is concluded under the Corporate Green Power Programme introduced by the Malaysian Single Buyer in 2023 to facilitate the use of renewable energy by businesses.
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