Sembcorp Strengthens Partnership with Equinix through Second Renewable Energy PPA

Sembcorp Industries (Sembcorp) today announces that its wholly-owned subsidiary, Sembcorp Power Pte Ltd (Sembcorp Power), has signed a long-term renewable energy power purchase agreement (PPA) for a tenure of 15 years with Equinix, Inc. (Equinix) to supply up to 58.5MWp from its renewable energy portfolio in Singapore, starting in 2029.

The PPA adds to an earlier renewable energy agreement signed with Equinix on April 29, 2024, for a supply of a maximum capacity of 75MWp. This brings the total contracted renewable energy capacity with Equinix to 133.5MWp. The increase in capacity strengthens the strategic partnership between Sembcorp and Equinix, underscoring both companies’ commitment to accelerating the transition to a low-carbon future.

Sembcorp is currently the largest solar energy provider in Singapore, with a portfolio of 771MWp, contributing to over half of Singapore’s 2025 solar energy target. Through its comprehensive suite of energy solutions, Sembcorp is a leading power provider to data centres in Singapore.

The signing of the PPA is in the ordinary course of business and is not expected to have a material impact on the earnings per share and net tangible assets per share of Sembcorp for the financial year ending December 31, 2024.