Wedoany.com Report-Mar 31, Sembcorp Industries has announced a significant milestone in its renewable energy efforts. On March 31, 2025, the company signed a 25-year agreement to construct a floating solar photovoltaic (PV) system with a peak capacity of 150 megawatts (MW). This project is set to be a key part of Meta Platforms, Inc.'s strategy to reduce its carbon footprint and transition to renewable energy sources in the Asia-Pacific region.
The solar farm, located on Kranji Reservoir in Singapore, will be built, owned, and operated by Sembcorp Solar Singapore Pte Ltd. The system is designed to support Meta's operations, including its data centers, by providing sustainable energy. Construction is expected to begin in the first half of 2027, with the system expected to come online by the end of 2028.
While the signing of this renewable energy partnership is a major step for Sembcorp, it is noted that the deal is unlikely to have a material impact on the company’s earnings per share or net tangible assets per share for the financial year ending December 2025. However, this project underscores Sembcorp’s commitment to advancing its sustainability goals and aligning with global efforts to combat climate change.
As the project progresses, Sembcorp continues to explore innovative ways to integrate renewable energy into its portfolio, positioning itself as a leader in the green energy sector. With this agreement, the company reinforces its dedication to reducing its environmental impact while supporting Meta’s broader mission to create a more sustainable future.
