Sembcorp, Equinix boost partnership with 15-year PPA

Nearly 50 MWp of clean energy will be supplied.

Sembcorp Industries, through its wholly-owned subsidiary Sembcorp Power Pte Ltd (Sembcorp Power), has signed a 15-year power purchase agreement (PPA) with Equinix, Inc. to supply up to 58.5 megawatt-peak (MWp) from its renewable energy portfolio in Singapore.

In a bourse filing, Sembcorp said the PPA will start in 2029.

This development comes after an earlier renewable energy agreement signed by both parties on 29 April for a supply of a maximum capacity of 75 MWp. The latest deal brings the total contracted renewable energy capacity with Equinix to 133.5 MWp.

Sembcorp currently has a solar energy portfolio of 771 MWp, which contributes to over half of Singapore’s 2025 solar power target.

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 31 December 2024.