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Sembcorp to Provide Solar Power to UBS for 10 years

Power News - Published on Mon, 16 Sep 2019

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Sembcorp Industries and global financial institution UBS announced that they have signed a long term solar energy deal in Singapore. As part of this deal, Sembcorp will provide locally-sourced renewable power to support UBS Singapore’s operations over the next ten years. UBS will be Sembcorp’s first renewable energy partner in the financial services industry. This partnership will run 25% of UBS’s annual consumption across all of its offices in Singapore, where the amount of renewable energy consumed will replace close to 20 million kilogrammes of carbon emissions in 10 years. By 2020, 100% of UBS operations in Singapore will fully run on renewable energy. Sembcorp will provide renewable energy to UBS Singapore offices through the sale of renewable energy attributes from surplus power generated by more than 15,000 offsite rooftop solar panels totaling 6.3 MWp in capacity.

These solar panels will be installed on top of a 40,000 square meter exhibition hall in Singapore by December 2019. All surplus solar energy generated from these panels have been exclusively bought by UBS for its operations in its Singapore offices, one of the first financial institutions in Singapore to solely purchase solar power from a local solar energy supplier.

Mr Koh Chiap Khiong, Head of Singapore Southeast Asia & China (Energy) of Sembcorp, said that “The paradigm shift towards being environmentally responsible is seeing more companies wanting to minimise or eradicate their carbon footprint, and Sembcorp is committed to meeting society’s growing need for green energy. With this deal with UBS, we are pleased to have onboard our very first renewable energy partner in the financial industry, and we will fully support them in their journey towards a more sustainable future.”

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Posted By : Rabi Wangkhem on Mon, 16 Sep 2019
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