Taiwan's TSMC to switch to 100% renewable power by 2050

Taiwan Semiconductor Manufacturing Co Ltd (TPE:2330), or TSMC, today said it has joined the RE100 initiative, committing to source 100% of its power from renewable sources by the end of 2050.

The RE100 initiative, run by non-profit organisation The Climate Group, brings together companies that have plans to reach 100% renewable power supply. TSMC is the first semiconductor company in the world to sign up to the initiative and the move is expected to push its peers to also go renewable.

Earlier this month, TSMS announced a 20-year fixed-price power purchase agreement (PPA) for the entire output of Ørsted AS's (CPH:ORSTED) 920-MW offshore wind park, the Greater Changhua 2b & 4 project. The wind farm, which is expected to be fully operational in 2025/2026, secured a feed-in tariff (FiT) in Taiwan’s first offshore wind auction two years ago, but TSMC has offered to pay more for the power and Taiwan renewable energy certificates (T-RECs).

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