Shares of the Sembcorp Industries rise 2% as it Signs Second Power Purchase Agreement with Equinix

MT Newswires

2024/12/03

Shares of the Sembcorp Industries were up over 2% in recent trading.

Sembcorp Industries' (SGX:U96) wholly owned subsidiary, Sembcorp Power, signed a 15-year power purchase agreement with Equinix to supply up to 58.5 MWp from its Singapore renewable energy portfolio, according to a filing with the Singapore Exchange on Tuesday.

The new agreement, which will start in 2029, came after the company signed a similar agreement with Equinix on April 29 for the supply of a maximum capacity of 75 MWp.

Sembcorp's current solar energy capacity in the city-state totals 771 MWp and it contributes to half of the country's 2025 solar energy target.

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