Sembcorp signs 18-Year PPAs with Equinix

Sembcorp Industries’ subsidiary, Sembcorp Power Pte Ltd, has inked two long-term powere purchase agreements (PPAs) with Equinix, Inc.’s subsidiaries for data centers in Singapore. These agreements entail supplying up to 75 MW from renewable sources and 30 MW from conventional sources to Equinix over 18 years. This is Equinix’s first renewable energy PPA in Singapore, sourcing power from Sembcorp’s solar assets. With this addition, Sembcorp fortifies its long-term PPA portfolio, ensuring robust cash flow. The agreements are projected to enhance Sembcorp’s earnings in the fiscal year ending December 31, 2024. Presently, Sembcorp leads in solar energy provision in Singapore, boasting a 727 MW portfolio.